STRUYF
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 17-06-2026 at the NBB all 25 filings
Turnover
≈ €39,000
Estimated: probably between €17,000 and €98,000
Total assets
€845,844▼ 2.7%
2024 · €869,108
Net result
€4,460▼ 89.7%
2024 · €43,228
Working capital
€148,818▲ 4.3%
2024 · €142,656
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€8,040
▼ 87.0%
2025
20182025
Net result
€4,460
▼ 89.7%
2025
middle half of the sector
20182025
Equity
€632,301
▲ 0.7%
2025
middle half of the sector
20182025
Total assets
€845,844
▼ 2.7%
2025
middle half of the sector
20182025
Debt
€213,543
▼ 11.5%
2025
20182025
Working capital
€148,818
▲ 4.3%
2025
middle half of the sector
20182025
Solvency
74.8%
▲ 2.5pp
2025
middle half of the sector
20182025
Current ratio
18.42
▲ 13.59
2025
highest quarter of the sector
20182025
Return on assets (ROA)
0.5%
▼ 4.4pp
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€26,690-€27,570▲ 3.3%€12,380▼ 55.1%€8,387▼ 32.3%€7,971▼ 5.0%€70,735▲ 787%€61,683▼ 12.8%€8,040▼ 87.0%
Net result€16,841-€19,308▲ 14.6%€8,547within the sector's middle half▼ 55.7%€4,718within the sector's middle half▼ 44.8%€4,801within the sector's middle half▲ 1.8%€49,517within the sector's middle half▲ 931%€43,228within the sector's middle half▼ 12.7%€4,460within the sector's middle half▼ 89.7%
Equity€497,721-€517,029▲ 3.9%€525,576within the sector's middle half▲ 1.7%€530,294within the sector's middle half▲ 0.9%€535,095within the sector's middle half▲ 0.9%€584,612within the sector's middle half▲ 9.3%€627,841within the sector's middle half▲ 7.4%€632,301within the sector's middle half▲ 0.7%
Total assets€580,891-€560,112▼ 3.6%€760,390within the sector's middle half▲ 35.8%€761,677within the sector's middle half▲ 0.2%€760,059within the sector's middle half▼ 0.2%€813,572within the sector's middle half▲ 7.0%€869,108within the sector's middle half▲ 6.8%€845,844within the sector's middle half▼ 2.7%
Debt€83,170-€43,083▼ 48.2%€234,813▲ 445%€231,383▼ 1.5%€224,963▼ 2.8%€228,960▲ 1.8%€241,267▲ 5.4%€213,543▼ 11.5%
Working capital€26,109-€35,511▲ 36.0%€44,037within the sector's middle half▲ 24.0%€49,722within the sector's middle half▲ 12.9%€55,042within the sector's middle half▲ 10.7%€105,711within the sector's middle half▲ 92.1%€142,656within the sector's middle half▲ 34.9%€148,818within the sector's middle half▲ 4.3%
Solvency85.7%-92.3%▲ 6.6pp69.1%within the sector's middle half▼ 23.2pp69.6%within the sector's middle half▲ 0.5pp70.4%within the sector's middle half▲ 0.8pp71.9%within the sector's middle half▲ 1.5pp72.2%within the sector's middle half▲ 0.4pp74.8%within the sector's middle half▲ 2.5pp
Current ratio1.36-1.84▲ 0.482.29within the sector's middle half▲ 0.452.68within the sector's middle half▲ 0.383.42within the sector's middle half▲ 0.755.14above the sector's middle half▲ 1.714.83above the sector's middle half▼ 0.3118.42above the sector's middle half▲ 13.59
Return on assets (ROA)2.9%-3.4%▲ 0.5pp1.1%within the sector's middle half▼ 2.3pp0.6%within the sector's middle half▼ 0.5pp0.6%within the sector's middle half=6.1%within the sector's middle half▲ 5.5pp5.0%within the sector's middle half▼ 1.1pp0.5%within the sector's middle half▼ 4.4pp
above
within
below
The sector band is the middle half of the companies in Activities of head offices; management consultancy activities (NACE 70). 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 2025 is 87% lower than in 2024. It is the second fall in a row.
Turnover and EBIT margin are not published. The abbreviated format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €845,844
Fixed assets
€688,483 ▼ 0.1%
Current assets
€157,361 ▼ 12.5%
Equity and liabilities €845,844
Equity
€632,301 ▲ 0.7%
Debt
€213,543 ▼ 11.5%
Debt's share of the balance-sheet total falls from 27.8% to 25.2%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€8,742▼
2024 · €61,818
Cash flow
€5,163▼
2024 · €43,363
Debt to equity
0.34▼
2024 · 0.38
ROE
0.7%▼
2024 · 6.9%
Interest coverage
5.06▼
2024 · 37.78
Debt ≤ 1 year
€8,543▼
2024 · €37,267
Debt > 1 year
€200,000=
2024 · €200,000
Income taxes
€1,850▼
2024 · €16,821
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | - | - | €7,021 | - |
| Depreciation and write-downs of the year | - | - | - | €134 | €702 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | - | - | - | - | €134 | €702 | ▲ 423% |
| Other operating charges640/8 | - | - | - | €674 | €1,169 | €601 | €404 | €946 | ▲ 134% |
| Gross operating margin9900 | €27,522 | €28,465 | €13,013 | €9,062 | €9,140 | €71,336 | €62,222 | €9,688 | ▼ 84.4% |
| Operating profit (loss)9901 | €26,690 | €27,570 | €12,380 | €8,387 | €7,971 | €70,735 | €61,683 | €8,040 | ▼ 87.0% |
| Financial income75/76B | - | - | - | - | €0 | €0 | €3 | - | - |
| Recurring financial income75 | - | €27 | - | - | €0 | €0 | €3 | - | - |
| Financial charges65/66B | - | - | - | €2,356 | €1,635 | €1,892 | €1,636 | €1,729 | ▲ 5.7% |
| Recurring financial charges65 | €5,193 | €2,889 | €1,510 | €2,356 | €1,635 | €1,892 | €1,636 | €1,729 | ▲ 5.7% |
| Profit (loss) for the period before taxes9903 | €21,497 | €24,708 | €10,870 | €6,031 | €6,337 | €68,843 | €60,050 | €6,311 | ▼ 89.5% |
| Income taxes67/77 | €4,656 | €5,399 | €2,323 | €1,313 | €1,536 | €19,326 | €16,821 | €1,850 | ▼ 89.0% |
| Profit (loss) for the period9904 | €16,841 | €19,308 | €8,547 | €4,718 | €4,801 | €49,517 | €43,228 | €4,460 | ▼ 89.7% |
| Profit (loss) for the period to be appropriated9905 | €16,841 | €19,308 | €8,547 | €4,718 | €4,801 | €49,517 | €43,228 | €4,460 | ▼ 89.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €580,891 | €560,112 | €760,390 | €761,677 | €760,059 | €813,572 | €869,108 | €845,844 | ▼ 2.7% |
| Fixed assets21/28 | €482,299 | €482,299 | €682,299 | €682,299 | €682,299 | €682,299 | €689,185 | €688,483 | ▼ 0.1% |
| Tangible fixed assets22/27 | - | - | - | - | - | - | €6,886 | €6,184 | ▼ 10.2% |
| Plant, machinery and equipment23 | - | - | - | - | - | - | €6,886 | €6,184 | ▼ 10.2% |
| Financial fixed assets28 | €482,299 | €482,299 | €682,299 | €682,299 | €682,299 | €682,299 | €682,299 | €682,299 | = |
| Current assets29/58 | €98,592 | €77,813 | €78,091 | €79,378 | €77,760 | €131,274 | €179,923 | €157,361 | ▼ 12.5% |
| Amounts receivable within one year40/41 | €91,667 | €76,346 | €76,683 | €76,093 | €76,716 | €122,911 | €133,337 | €151,160 | ▲ 13.4% |
| Trade receivables40 | - | - | - | €7,000 | €8,845 | €60,000 | €60,500 | €60,500 | = |
| Other amounts receivable41 | - | - | - | €69,093 | €67,871 | €62,911 | €72,837 | €90,660 | ▲ 24.5% |
| Cash at bank and in hand54/58 | €6,452 | €982 | €704 | €2,536 | €477 | €7,811 | €46,014 | €5,276 | ▼ 88.5% |
| Deferred charges and accrued income490/1 | - | - | - | €749 | €567 | €552 | €572 | €926 | ▲ 61.9% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €580,891 | €560,112 | €760,390 | €761,677 | €760,059 | €813,572 | €869,108 | €845,844 | ▼ 2.7% |
| Equity10/15 | €497,721 | €517,029 | €525,576 | €530,294 | €535,095 | €584,612 | €627,841 | €632,301 | ▲ 0.7% |
| Contributions10/11 | €29,750 | €29,750 | - | €29,750 | €29,750 | €29,750 | €29,750 | €29,750 | = |
| Reserves13 | €467,971 | €487,279 | €495,826 | €500,544 | €505,345 | €554,862 | €598,091 | €602,551 | ▲ 0.7% |
| Non-distributable reserves130/1 | - | - | - | €2,975 | €2,975 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €2,975 | €2,975 | - | - | - | - |
| Distributable reserves133 | - | - | - | €497,569 | €502,370 | €554,862 | €598,091 | €602,551 | ▲ 0.7% |
| Amounts payable17/49 | €83,170 | €43,083 | €234,813 | €231,383 | €224,963 | €228,960 | €241,267 | €213,543 | ▼ 11.5% |
| Amounts payable after more than one year17 | €9,380 | - | €200,000 | €200,000 | €200,000 | €200,000 | €200,000 | €200,000 | = |
| Financial debts170/4 | - | - | - | €200,000 | €200,000 | €200,000 | €200,000 | €200,000 | = |
| Amounts payable within one year42/48 | €72,483 | €42,302 | €34,054 | €29,657 | €22,718 | €25,563 | €37,267 | €8,543 | ▼ 77.1% |
| Financial debts43 | - | - | - | - | - | €12,000 | €12,000 | - | - |
| Credit institutions430/8 | - | - | - | - | - | €12,000 | €12,000 | - | - |
| Trade debts44 | €387 | €494 | €496 | - | €2,344 | €40 | €62 | €556 | ▲ 795% |
| Suppliers440/4 | - | - | - | - | €2,344 | €40 | €62 | €556 | ▲ 795% |
| Taxes, remuneration and social security45 | - | - | - | €3,712 | €3,250 | €10,741 | €25,205 | €7,987 | ▼ 68.3% |
| Taxes450/3 | - | - | - | €3,712 | €3,250 | €10,741 | €25,205 | €7,987 | ▼ 68.3% |
| Other amounts payable47/48 | - | - | - | €25,945 | €17,124 | €2,782 | - | - | - |
| Accrued charges and deferred income492/3 | - | - | - | €1,726 | €2,245 | €3,397 | €4,000 | €5,000 | ▲ 25.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €16,841 | €19,308 | €8,547 | €4,718 | €4,801 | €49,517 | €43,228 | €4,460 | ▼ 89.7% |
| + Depreciation and write-downs630 | - | - | - | - | - | - | €134 | €702 | ▲ 423% |
| Operating cash flow (approximation) | €16,841 | €19,308 | €8,547 | €4,718 | €4,801 | €49,517 | €43,363 | €5,163 | ▼ 88.1% |
| Investment in fixed assets (approximation) | - | €0 | -€200,000 | €0 | €0 | €0 | -€7,021 | €0 | - |
| Change in cash | - | -€5,470 | -€278 | €1,832 | -€2,059 | €7,334 | €38,203 | -€40,738 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 25 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 17-06-2026 | 2026-00168117 | |
| 31-12-2024 | abbreviated format | 23-06-2025 | 2025-00163635 | |
| 31-12-2023 | abbreviated format | 18-06-2024 | 2024-00136795 | |
| 31-12-2022 | abbreviated format | 12-06-2023 | 2023-00118261 | |
| 31-12-2021 | abbreviated format | 20-06-2022 | 2022-20073296 | |
| 31-12-2020 | abbreviated format | 14-06-2021 | 2021-19900321 | |
| 31-12-2019 | abbreviated format | 15-06-2020 | 2020-16800084 | |
| 31-12-2018 | abbreviated format | 19-06-2019 | 2019-20000500 | |
| 31-12-2017 | abbreviated format | 11-06-2018 | 2018-17400512 | |
| 31-12-2016 | abbreviated format | 20-06-2017 | 2017-19200205 |