SW2
Annual accounts 2025
micro format, filed on 10-11-2025, 10 days lateTurnover and EBIT margin are not published. The micro format does not require them.
Balance sheet
balance sheet total €174,346 on 31-03-2025in euro
in euro
Position in the sector
-17.7%
Higher than 20% of 2,882 companies in 2025.
0.43
Higher than 26% of 2,767 companies in 2025.
-18.6%
Higher than 14% of 2,791 companies in 2025.
Net result: bottom quarter · Equity: bottom quarter · Balance sheet total: middle half · Working capital: bottom quarter
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 |
|---|---|---|---|
| Balance sheet: assets | |||
20/58 |
174,346 | 10,581 | |
20 |
1,936 | 2,449 | |
21/28 |
131,162 | 6,300 | |
22/27 |
124,862 | - | |
23 |
23,902 | - | |
24 |
31,945 | - | |
26 |
69,016 | - | |
28 |
6,300 | 6,300 | |
29/58 |
41,248 | 1,832 | |
40/41 |
33,370 | 135 | |
40 |
32,992 | - | |
41 |
378 | 135 | |
54/58 |
7,877 | 1,697 | |
| Balance sheet: equity and liabilities | |||
10/49 |
174,346 | 10,581 | |
10/15 |
-30,909 | 1,539 | |
10/11 |
3,000 | 3,000 | |
14 |
-33,909 | -1,461 | |
17/49 |
205,255 | 9,043 | |
17 |
108,843 | - | |
170/4 |
108,843 | - | |
42/48 |
96,412 | 9,043 | |
42 |
9,490 | - | |
44 |
39,349 | 2,743 | |
440/4 |
39,349 | 2,743 | |
45 |
688 | - | |
450/3 |
688 | - | |
47/48 |
46,885 | 6,300 | |
| Income statement | |||
9900 |
-25,359 | -1,248 | |
630 |
5,837 | 116 | |
9901 |
-31,197 | -1,363 | |
65/66B |
1,250 | 98 | |
65 |
1,250 | 98 | |
9903 |
-32,447 | -1,461 | |
9904 |
-32,447 | -1,461 | |
9905 |
-32,447 | -1,461 | |
| Appropriation of the result | |||
9906 |
-33,909 | -1,461 | |
14P |
-1,461 | - | |
| Document | |||
The notes to these accounts have 7 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 10-11-2025.
Filings
each dot is a set of accounts, on the day it reached the National Bank2025 annual accounts filed 10 days after the deadline. Filed on 10 November 2025, deadline 31 October 2025 (7 months after the close on 31 March 2025, Companies Code art. 3:10). Source: NBB, 2025-00565508.
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 |
|---|---|---|---|
| -25,359 | -1,248 | ||
| -26,610 | -1,346 | ||
| 130,187 | 6,300 | ||
| 6,181 | - | ||
| -55,164 | -7,211 | ||
| -17.7% | 14.5% | ||
| 0.43 | 0.20 | ||
| - | 5.88 | ||
| - | -95.0% | ||
| -18.6% | -13.8% | ||
| -20.28 | -12.73 |
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
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.
Investments
fixed assets acquired| Item | 31-03-2025 | 31-03-2024 |
|---|---|---|
| Tangible fixed assets | €130,187 | - |
| Financial fixed assets | - | €6,300 |
| €5,837 | €116 |
Source: notes to the 2024 to 2025 annual accounts (statement of fixed assets)
Insights on SW2
The operating result for 2025 is a loss of €31,197, larger than the loss of €1,363 in 2024.
Equity is negative. Debt (€205,255) exceeds the balance-sheet total (€174,346).