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ActiveFinancials · financial year 2025, full format
Annual accounts 2025 filed on 28-05-2026 PDF all 17 filings
Turnover
≈ €180,000
Estimated: probably between €130,000 and €290,000
EBIT margin
Not included in this filing
Net result
€65,764
2024 · -€3,309
Working capital
€5,900▼ 97.6%
2024 · €241,352
Multi-year overview
2019 to 2025, 8 financial yearsOperating result
€90,067
2025
20192025
Net result
€65,764
2025
middle half of the sector
20192025
Equity
€541,868
▲ 13.8%
2025
middle half of the sector
20192025
Total assets
€922,576
▼ 19.1%
2025
middle half of the sector
20192025
Debt
€380,709
▼ 42.7%
2025
20192025
Working capital
€5,900
▼ 97.6%
2025
middle half of the sector
20192025
Solvency
58.7%
▲ 17.0pp
2025
middle half of the sector
20192025
Current ratio
1.05
▼ 2.07
2025
middle half of the sector
20192025
Return on assets (ROA)
7.1%
▲ 7.4pp
2025
middle half of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20192020202120222023202320242025
Operating result€0.03m-€0.01m▼ 60.0%-€0.03m€0.02m€0.2m▲ 582%€0.04m--€0.001m€0.09m
Net result€0.02m-€0.007m▼ 61.4%-€0.04mbelow the sector's middle half€0.02mwithin the sector's middle half€0.1mwithin the sector's middle half▲ 561%€0.03mwithin the sector's middle half--€0.003mbelow the sector's middle half€0.07mwithin the sector's middle half
Equity€0.4m-€0.4m▲ 2.0%€0.3mabove the sector's middle half▼ 10.2%€0.3mabove the sector's middle half▲ 4.9%€0.5mwithin the sector's middle half▲ 31.0%€0.5mwithin the sector's middle half-€0.5mwithin the sector's middle half▼ 0.7%€0.5mwithin the sector's middle half▲ 13.8%
Total assets€0.8m-€0.8m▲ 0.7%€0.8mabove the sector's middle half▼ 2.2%€0.8mabove the sector's middle half▲ 1.4%€1.1mwithin the sector's middle half▲ 35.4%€0.8mwithin the sector's middle half-€1.1mwithin the sector's middle half▲ 38.6%€0.9mwithin the sector's middle half▼ 19.1%
Debt€0.4m-€0.4m▼ 0.3%€0.5m▲ 4.6%€0.5m▼ 1.1%€0.6m▲ 38.8%€0.3m-€0.7m▲ 93.4%€0.4m▼ 42.7%
Working capital-€0.2m--€0.2m▼ 6.6%-€0.3mbelow the sector's middle half▼ 30.7%-€0.4mbelow the sector's middle half▼ 18.8%-€0.2mbelow the sector's middle half▲ 42.3%-€0.2mbelow the sector's middle half-€0.2mwithin the sector's middle half€0.006mwithin the sector's middle half▼ 97.6%
Solvency45.0%-45.6%▲ 0.6pp41.9%within the sector's middle half▼ 3.7pp43.3%within the sector's middle half▲ 1.5pp41.9%within the sector's middle half▼ 1.4pp58.3%within the sector's middle half-41.8%within the sector's middle half▼ 16.5pp58.7%within the sector's middle half▲ 17.0pp
Current ratio0.06-0.08▲ 0.020.01below the sector's middle half▼ 0.070.04below the sector's middle half▲ 0.030.57within the sector's middle half▲ 0.530.15below the sector's middle half-3.12within the sector's middle half▲ 2.971.05within the sector's middle half▼ 2.07
Return on assets (ROA)2.3%-0.9%▼ 1.4pp-4.7%below the sector's middle half▼ 5.6pp2.0%within the sector's middle half▲ 6.8pp9.9%within the sector's middle half▲ 7.9pp3.4%within the sector's middle half--0.3%below the sector's middle half▼ 3.7pp7.1%within the sector's middle half▲ 7.4pp
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.
Several financial years end in the same calendar year, so there is no annual trend.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €922,576
Fixed assets
€785,968 ▲ 0.2%
Current assets
€136,609 ▼ 61.6%
Equity and liabilities €922,576
Equity
€541,868 ▲ 13.8%
Debt
€380,709 ▼ 42.7%
Debt's share of the balance-sheet total falls from 58.2% to 41.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€91,851▲
2024 · €667
Cash flow
€67,548▲
2024 · -€1,526
Debt to equity
0.70▼
2024 · 1.39
ROE
12.1%▲
2024 · -0.7%
Interest coverage
22.65▲
2024 · 0.14
Debt ≤ 1 year
€130,709▲
2024 · €113,984
Debt > 1 year
€250,000▼
2024 · €550,000
Income taxes
€30,624▲
2024 · €1,110
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Overdue debts
| Item | 30-06-2022 | 30-06-2023 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Overdue tax debts | - | €41,805 | - | - | - |
Source: notes to the 2022 to 2025 annual accounts (statement of debts)
Investments
| Item | 30-06-2022 | 30-06-2023 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €8,915 | - | - | - |
| Depreciation and write-downs of the year | - | €1,490 | €892 | €1,783 | €1,783 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | - | - | €1,490 | €892 | €1,783 | €1,783 | = |
| Other operating charges640/8 | - | - | - | €868 | €11,397 | €434 | €387 | €1,377 | ▲ 255% |
| Gross operating margin9900 | €27,552 | €10,623 | €3,641 | €23,458 | €166,923 | €41,342 | €1,054 | €93,227 | ▲ 88× |
| Operating profit (loss)9901 | €26,367 | €10,548 | -€32,843 | €22,590 | €154,035 | €40,016 | -€1,116 | €90,067 | - |
| Financial income75/76B | - | - | - | - | €527 | €839 | €3,813 | €10,376 | ▲ 172% |
| Recurring financial income75 | - | €140 | - | - | €527 | €839 | €3,813 | €10,376 | ▲ 172% |
| Financial charges65/66B | - | - | - | €527 | €4,700 | €2,480 | €4,895 | €4,055 | ▼ 17.2% |
| Recurring financial charges65 | €291 | €266 | €4,366 | €527 | €4,700 | €2,480 | €4,895 | €4,055 | ▼ 17.2% |
| Profit (loss) for the period before taxes9903 | €26,076 | €10,423 | -€37,208 | €22,063 | €149,861 | €38,375 | -€2,199 | €96,388 | - |
| Income taxes67/77 | €7,627 | €3,303 | - | €5,899 | €43,055 | €10,243 | €1,110 | €30,624 | ▲ 28× |
| Profit (loss) for the period9904 | €18,449 | €7,120 | -€37,208 | €16,164 | €106,807 | €28,132 | -€3,309 | €65,764 | - |
| Profit (loss) for the period to be appropriated9905 | €18,449 | €7,120 | -€37,208 | €16,164 | €106,807 | €28,132 | -€3,309 | €65,764 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €0.8m | €0.8m | €0.8m | €0.8m | €1.1m | €0.8m | €1.1m | €0.9m | ▼ 19.1% |
| Fixed assets21/28 | €0.8m | €0.8m | €0.8m | €0.8m | €0.8m | €0.8m | €0.8m | €0.8m | ▲ 0.2% |
| Tangible fixed assets22/27 | - | - | - | - | €0.007m | €0.007m | €0.005m | €0.003m | ▼ 37.5% |
| Furniture and vehicles24 | - | - | - | - | €0.002m | €0.002m | €0.002m | €0.001m | ▼ 34.0% |
| Other tangible fixed assets26 | - | - | - | - | €0.005m | €0.004m | €0.003m | €0.002m | ▼ 39.3% |
| Financial fixed assets28 | €0.8m | €0.8m | €0.8m | €0.8m | €0.8m | €0.8m | €0.8m | €0.8m | ▲ 0.4% |
| Current assets29/58 | €0.02m | €0.02m | €0.004m | €0.02m | €0.3m | €0.04m | €0.4m | €0.1m | ▼ 61.6% |
| Amounts receivable within one year40/41 | €0.01m | €0.02m | €0.004m | €0.002m | €0.3m | €0.04m | €0.4m | €0.1m | ▼ 61.7% |
| Trade receivables40 | - | - | - | - | €0.3m | €0.002m | €0.3m | €0.001m | ▼ 99.5% |
| Other amounts receivable41 | - | - | - | €0.002m | €0.03m | €0.03m | €0.1m | €0.1m | ▲ 29.6% |
| Cash at bank and in hand54/58 | €3 | €253 | €236 | €0.01m | €0.001m | €0.001m | €0.001m | €0.001m | ▲ 37.4% |
| Deferred charges and accrued income490/1 | - | - | - | - | €204 | €472 | €0.001m | €76 | ▼ 92.2% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €0.8m | €0.8m | €0.8m | €0.8m | €1.1m | €0.8m | €1.1m | €0.9m | ▼ 19.1% |
| Equity10/15 | €0.4m | €0.4m | €0.3m | €0.3m | €0.5m | €0.5m | €0.5m | €0.5m | ▲ 13.8% |
| Contributions10/11 | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Capital10 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Issued capital100 | - | - | - | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Reserves13 | €0.01m | €0.01m | €0.01m | €0.01m | €0.4m | €0.4m | €0.4m | €0.4m | ▲ 17.5% |
| Non-distributable reserves130/1 | - | - | - | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Legal reserve130 | - | - | - | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Distributable reserves133 | - | - | - | - | €0.3m | €0.4m | €0.4m | €0.4m | ▲ 18.0% |
| Profit (loss) carried forward14 | €0.2m | €0.3m | €0.2m | €0.2m | €0 | - | - | - | - |
| Amounts payable17/49 | €0.4m | €0.4m | €0.5m | €0.5m | €0.6m | €0.3m | €0.7m | €0.4m | ▼ 42.7% |
| Amounts payable after more than one year17 | €0.2m | €0.2m | €0.1m | €0.05m | €0.1m | €0.1m | €0.6m | €0.3m | ▼ 54.5% |
| Financial debts170/4 | - | - | - | €0.05m | €0.02m | €0 | - | - | - |
| Other amounts payable178/9 | - | - | - | - | €0.1m | €0.1m | €0.6m | €0.3m | ▼ 54.5% |
| Amounts payable within one year42/48 | €0.2m | €0.3m | €0.3m | €0.4m | €0.5m | €0.2m | €0.1m | €0.1m | ▲ 14.7% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.04m | €0.04m | €0.04m | €0 | - | - |
| Financial debts43 | - | - | - | - | - | €156 | €0 | €0.04m | - |
| Credit institutions430/8 | - | - | - | - | - | €156 | €0 | €0.04m | - |
| Trade debts44 | €0.006m | €0.008m | €0.005m | €0.04m | €0.4m | €0.08m | €0.007m | €0.01m | ▲ 124% |
| Suppliers440/4 | - | - | - | €0.04m | €0.4m | €0.08m | €0.007m | €0.01m | ▲ 124% |
| Taxes, remuneration and social security45 | - | - | - | €0.03m | €0.09m | €0.1m | €0.08m | €0.05m | ▼ 41.0% |
| Taxes450/3 | - | - | - | €0.03m | €0.09m | €0.1m | €0.08m | €0.05m | ▼ 41.0% |
| Remuneration and social security454/9 | - | - | - | - | - | €0.005m | €0 | - | - |
| Other amounts payable47/48 | - | - | - | €0.3m | €0.004m | €0.007m | €0.03m | €0.03m | ▼ 0.4% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €18,449 | €7,120 | -€37,208 | €16,164 | €106,807 | €28,132 | -€3,309 | €65,764 | - |
| + Depreciation and write-downs630 | - | - | - | - | €1,490 | €892 | €1,783 | €1,783 | = |
| Operating cash flow (approximation) | €18,449 | €7,120 | -€37,208 | €16,164 | €108,297 | €29,024 | -€1,526 | €67,548 | - |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | -€8,890 | - | €0 | -€3,000 | - |
| Change in cash | - | €250 | -€17 | €12,533 | -€11,826 | - | €108 | €248 | ▲ 130% |
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 | full format | 28-05-2026 | 2026-00123347 | |
| 31-12-2024 | full format | 08-07-2025 | 2025-00255114 | |
| 31-12-2023 | full format | 30-07-2024 | 2024-00305428 | |
| 30-06-2023 | full format | 31-01-2024 | 2024-00025488 | |
| 30-06-2022 | micro format | 11-04-2023 | 2023-00056366 | |
| 30-06-2021 | micro format | 31-01-2022 | 2022-03800271 | |
| 30-06-2020 | micro format | 29-01-2021 | 2021-03400417 | |
| 30-06-2019 | micro format | 02-12-2019 | 2019-75200418 | |
| 30-06-2018 | micro format | 12-10-2018 | 2018-69300502 | |
| 30-06-2017 | micro format | 27-02-2018 | 2018-06000495 |