SUBLIGYP
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 30-07-2026 at the NBB all 17 filings
Turnover
≈ €1.2m
Estimated: probably between €880,000 and €1.8m
Total assets
€775,433▲ 5.0%
2024 · €738,324
Net result
€103,300▲ 73.2%
2024 · €59,659
Working capital
€159,329▼ 42.3%
2024 · €276,226
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€141,028
▲ 54.1%
2025
20182025
Net result
€103,300
▲ 73.2%
2025
20182025
Equity
€273,205
▼ 30.7%
2025
20182025
Total assets
€775,433
▲ 5.0%
2025
20182025
Debt
€502,228
▲ 46.0%
2025
20182025
Working capital
€159,329
▼ 42.3%
2025
20182025
Staff (FTE)
3.8
▲ 26.7%
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€74,600-€65,458▼ 12.3%€109,781▲ 67.7%€136,605▲ 24.4%€131,495▼ 3.7%€106,349▼ 19.1%€91,510▼ 14.0%€141,028▲ 54.1%
Net result€54,088-€52,465▼ 3.0%€89,199▲ 70.0%€94,374▲ 5.8%€100,424▲ 6.4%€73,589▼ 26.7%€59,659▼ 18.9%€103,300▲ 73.2%
Equity€60,406-€62,871▲ 4.1%€123,500▲ 96.4%€189,304▲ 53.3%€261,157▲ 38.0%€334,746▲ 28.2%€394,405▲ 17.8%€273,205▼ 30.7%
Total assets€166,387-€139,680▼ 16.1%€490,408▲ 251%€553,644▲ 12.9%€760,389▲ 37.3%€727,623▼ 4.3%€738,324▲ 1.5%€775,433▲ 5.0%
Debt€105,981-€76,809▼ 27.5%€366,908▲ 378%€364,341▼ 0.7%€499,232▲ 37.0%€392,878▼ 21.3%€343,919▼ 12.5%€502,228▲ 46.0%
Working capital€34,982-€38,827▲ 11.0%€94,139▲ 142%€125,218▲ 33.0%€145,531▲ 16.2%€214,016▲ 47.1%€276,226▲ 29.1%€159,329▼ 42.3%
Staff (FTE)1.9-2.3▲ 21.1%2.8▲ 21.7%3.2▲ 14.3%3.8▲ 18.8%3.7▼ 2.6%3▼ 18.9%3.8▲ 26.7%
The operating result for 2025 is 54% higher than in 2024 and the highest since 2021. It is a recovery after the fall in 2024.
Turnover and EBIT margin are not published. The micro 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 €775,433
Fixed assets
€312,671 ▼ 15.6%
Current assets
€462,761 ▲ 25.8%
Equity and liabilities €775,433
Equity
€273,205 ▼ 30.7%
Debt
€502,228 ▲ 46.0%
Debt's share of the balance-sheet total rises from 46.6% to 64.8%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€204,038▲
2024 · €157,034
Cash flow
€166,310▲
2024 · €125,183
Current ratio
1.53▼
2024 · 4.01
Debt to equity
1.84▲
2024 · 0.87
ROE
37.8%▲
2024 · 15.1%
ROA
13.3%▲
2024 · 8.1%
Interest coverage
45.62▲
2024 · 30.47
Debt ≤ 1 year
€303,433▲
2024 · €91,629
Debt > 1 year
€198,795▼
2024 · €252,290
Income taxes
€36,118▲
2024 · €28,490
Staff costs
€247,553▲
2024 · €185,661
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 4 | 4 | 3 | 3 | 2 |
| full-time | 4 | 4 | 3 | 3 | 2 |
| in full-time equivalents | 4 | 4 | 3 | 3 | 2 |
| Average over the year, in full-time equivalents | 3.2 | 3.8 | 3.7 | 3 | 3.8 |
| On a permanent contract | 2 | 3 | 2 | 2 | 2 |
| Joined | 5 | 3 | 3 | 2 | 3 |
| Left | 4 | 3 | 4 | 2 | 4 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €36,821 | €197,679 | €9,549 | €7,420 | €5,212 |
| Depreciation and write-downs of the year | €29,591 | €54,102 | €67,277 | €65,523 | €63,010 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2023 · 1 entry · €197 awarded · €197 paidAnnual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €150,607 | €204,707 | €214,855 | €185,661 | €247,553 | ▲ 33.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €29,363 | €24,090 | €55,818 | €29,591 | €54,102 | €67,277 | €65,523 | €63,010 | ▼ 3.8% |
| Other operating charges640/8 | - | - | - | €3,636 | €3,920 | €3,376 | €4,661 | €4,083 | ▼ 12.4% |
| Non-recurring operating charges66A | - | - | - | - | - | - | €527 | €3,370 | ▲ 540% |
| Gross operating margin9900 | €174,583 | €185,983 | €281,836 | €320,440 | €394,223 | €391,857 | €347,883 | €459,044 | ▲ 32.0% |
| Operating profit (loss)9901 | €74,600 | €65,458 | €109,781 | €136,605 | €131,495 | €106,349 | €91,510 | €141,028 | ▲ 54.1% |
| Financial income75/76B | - | - | - | €3,091 | €17,385 | €1,795 | €1,793 | €2,862 | ▲ 59.6% |
| Recurring financial income75 | €1,119 | €1,752 | €1,804 | €3,091 | €1,885 | €1,795 | €1,793 | €2,862 | ▲ 59.6% |
| Non-recurring financial income76B | - | - | - | - | €15,500 | - | - | - | - |
| Financial charges65/66B | - | - | - | €5,274 | €5,622 | €5,752 | €5,154 | €4,472 | ▼ 13.2% |
| Recurring financial charges65 | €915 | €523 | €1,187 | €5,274 | €5,622 | €5,752 | €5,154 | €4,472 | ▼ 13.2% |
| Profit (loss) for the period before taxes9903 | €74,804 | €66,687 | €110,397 | €134,422 | €143,258 | €102,391 | €88,149 | €139,418 | ▲ 58.2% |
| Income taxes67/77 | €20,716 | €14,222 | €21,199 | €40,048 | €42,834 | €28,802 | €28,490 | €36,118 | ▲ 26.8% |
| Profit (loss) for the period9904 | €54,088 | €52,465 | €89,199 | €94,374 | €100,424 | €73,589 | €59,659 | €103,300 | ▲ 73.2% |
| Profit (loss) for the period to be appropriated9905 | €54,088 | €52,465 | €89,199 | €94,374 | €100,424 | €73,589 | €59,659 | €103,300 | ▲ 73.2% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €166,387 | €139,680 | €490,408 | €553,644 | €760,389 | €727,623 | €738,324 | €775,433 | ▲ 5.0% |
| Fixed assets21/28 | €37,654 | €26,120 | €336,021 | €343,251 | €486,828 | €429,100 | €370,469 | €312,671 | ▼ 15.6% |
| Tangible fixed assets22/27 | €37,604 | €26,070 | €335,971 | €343,201 | €486,778 | €429,050 | €370,419 | €312,621 | ▼ 15.6% |
| Land and buildings22 | - | - | - | €279,504 | €270,652 | €261,800 | €252,948 | €244,096 | ▼ 3.5% |
| Plant, machinery and equipment23 | - | - | - | €18,377 | €10,700 | €12,674 | €9,654 | €8,147 | ▼ 15.6% |
| Furniture and vehicles24 | - | - | - | €45,320 | €205,426 | €154,576 | €107,816 | €60,378 | ▼ 44.0% |
| Financial fixed assets28 | €50 | €50 | €50 | €50 | €50 | €50 | €50 | €50 | = |
| Current assets29/58 | €128,732 | €113,560 | €154,387 | €210,393 | €273,561 | €298,523 | €367,855 | €462,761 | ▲ 25.8% |
| Amounts receivable after more than one year29 | - | - | - | - | - | - | €10,000 | €35,000 | ▲ 250% |
| Other amounts receivable291 | - | - | - | - | - | - | €10,000 | €35,000 | ▲ 250% |
| Stocks and contracts in progress3 | - | - | - | - | - | €13,132 | - | - | - |
| Stocks30/36 | - | - | - | - | - | €13,132 | - | - | - |
| Amounts receivable within one year40/41 | €25,018 | €4,998 | €31,218 | €31,022 | €25,643 | €25,002 | €58,801 | €57,221 | ▼ 2.7% |
| Trade receivables40 | - | - | - | €30,967 | €15,518 | €18,429 | €52,801 | €57,221 | ▲ 8.4% |
| Other amounts receivable41 | - | - | - | €54 | €10,125 | €6,573 | €6,000 | - | - |
| Cash at bank and in hand54/58 | €101,059 | €104,904 | €122,898 | €179,372 | €247,918 | €260,390 | €299,054 | €370,269 | ▲ 23.8% |
| Deferred charges and accrued income490/1 | - | - | - | - | - | - | - | €271 | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €166,387 | €139,680 | €490,408 | €553,644 | €760,389 | €727,623 | €738,324 | €775,433 | ▲ 5.0% |
| Equity10/15 | €60,406 | €62,871 | €123,500 | €189,304 | €261,157 | €334,746 | €394,405 | €273,205 | ▼ 30.7% |
| Contributions10/11 | €6,200 | €6,200 | - | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Capital10 | - | - | - | - | - | €6,200 | - | - | - |
| Issued capital100 | - | - | - | - | - | €6,200 | - | - | - |
| Contributions outside capital11 | - | - | - | €6,200 | €6,200 | - | - | - | - |
| Other1109/19 | - | - | - | €6,200 | €6,200 | - | - | - | - |
| Reserves13 | €53,355 | €53,355 | €108,605 | €173,605 | €245,105 | €317,105 | €376,105 | €254,605 | ▼ 32.3% |
| Non-distributable reserves130/1 | - | - | - | €1,855 | €1,855 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,855 | €1,855 | - | - | - | - |
| Tax-exempt reserves132 | - | - | - | €18,750 | €18,750 | €18,750 | €18,750 | €18,750 | = |
| Distributable reserves133 | - | - | - | €153,000 | €224,500 | €298,355 | €357,355 | €235,855 | ▼ 34.0% |
| Profit (loss) carried forward14 | €851 | €3,316 | €8,695 | €9,499 | €9,852 | €11,441 | €12,100 | €12,400 | ▲ 2.5% |
| Amounts payable17/49 | €105,981 | €76,809 | €366,908 | €364,341 | €499,232 | €392,878 | €343,919 | €502,228 | ▲ 46.0% |
| Amounts payable after more than one year17 | €12,230 | €2,076 | €306,661 | €279,165 | €369,997 | €308,370 | €252,290 | €198,795 | ▼ 21.2% |
| Financial debts170/4 | - | - | - | €279,165 | €369,997 | €308,370 | €252,290 | €198,795 | ▼ 21.2% |
| Amounts payable within one year42/48 | €93,751 | €74,733 | €60,247 | €85,175 | €128,030 | €84,508 | €91,629 | €303,433 | ▲ 231% |
| Current portion of amounts payable after more than one year42 | - | - | - | €31,829 | €65,751 | €61,627 | €56,079 | €53,495 | ▼ 4.6% |
| Trade debts44 | €1,048 | €13,613 | €21,425 | €23,096 | €30,854 | €18,612 | €30,730 | €13,282 | ▼ 56.8% |
| Suppliers440/4 | - | - | - | €23,096 | €30,854 | €18,612 | €30,730 | €13,282 | ▼ 56.8% |
| Advances received on contracts in progress46 | - | - | - | - | €1,236 | - | - | - | - |
| Taxes, remuneration and social security45 | - | - | - | - | €1,003 | €4,268 | €3,812 | €12,548 | ▲ 229% |
| Taxes450/3 | - | - | - | - | - | - | €3,812 | €49 | ▼ 98.7% |
| Remuneration and social security454/9 | - | - | - | - | €1,003 | €4,268 | - | €12,499 | - |
| Other amounts payable47/48 | - | - | - | €30,250 | €29,186 | - | €1,008 | €224,107 | ▲ 222× |
| Accrued charges and deferred income492/3 | - | - | - | - | €1,205 | - | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €54,088 | €52,465 | €89,199 | €94,374 | €100,424 | €73,589 | €59,659 | €103,300 | ▲ 73.2% |
| + Depreciation and write-downs630 | €29,363 | €24,090 | €55,818 | €29,591 | €54,102 | €67,277 | €65,523 | €63,010 | ▼ 3.8% |
| Operating cash flow (approximation) | €83,451 | €76,555 | €145,017 | €123,966 | €154,526 | €140,866 | €125,183 | €166,310 | ▲ 32.9% |
| Investment in fixed assets (approximation) | - | -€12,556 | -€365,720 | -€36,821 | -€197,679 | -€9,549 | -€6,893 | -€5,212 | ▲ 24.4% |
| Change in cash | - | €3,845 | €17,994 | €56,474 | €68,546 | €12,472 | €38,664 | €71,216 | ▲ 84.2% |
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 17 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 30-07-2026 | 2026-00371749 | |
| 31-12-2024 | micro format | 28-07-2025 | 2025-00324803 | |
| 31-12-2023 | micro format | 02-08-2024 | 2024-00326051 | |
| 31-12-2022 | micro format | 15-06-2023 | 2023-00132819 | |
| 31-12-2021 | micro format | 22-06-2022 | 2022-20145359 | |
| 31-12-2020 | micro format | 26-07-2021 | 2021-41000125 | |
| 31-12-2019 | micro format | 23-06-2020 | 2020-19900005 | |
| 31-12-2018 | micro format | 14-06-2019 | 2019-18700505 | |
| 31-12-2017 | micro format | 09-07-2018 | 2018-30300077 | |
| 31-12-2016 | micro format | 09-06-2017 | 2017-16300124 |