TARGET SOLUTION
Annual accounts 2025
abbreviated format, filed on 28-04-2026, 2 days before the deadlineTurnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €330,000. Estimated: probably between €150,000 and €550,000.
Balance sheet
balance sheet total €353,874 on 30-09-2025in euro
in euro
Position in the sector
87.3%
Higher than 94% of 13,234 companies in 2025.
5.48
Higher than 90% of 13,093 companies in 2025.
7.7%
Higher than 65% of 13,156 companies in 2025.
Net result: middle half · Equity: middle half · Balance sheet total: bottom quarter · Working capital: middle half
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||||||||||||
20/58 |
353,874 | 322,811 | 341,113 | 353,798 | 359,193 | 368,575 | 318,864 | 285,629 | 338,065 | 319,071 | 312,603 | 302,693 | 322,211 | 349,722 | 353,913 | 378,538 | 401,980 | 366,418 | |
21/28 |
107,935 | 119,110 | 124,843 | 123,299 | 131,216 | 135,019 | 123,733 | 127,480 | 131,439 | - | 143,486 | 149,733 | 156,469 | 162,932 | 173,824 | 185,238 | 196,081 | 216,084 | |
21 |
- | - | - | - | - | - | - | - | - | - | - | - | - | - | 1,860 | 5,578 | 9,296 | 13,015 | |
22/27 |
105,010 | 115,735 | 121,468 | 119,924 | 127,841 | 131,644 | 120,358 | 124,105 | 128,064 | 132,440 | 140,111 | 146,358 | 152,714 | 159,427 | 167,414 | 175,110 | 182,235 | 199,409 | |
22 |
99,008 | 109,287 | 109,754 | 103,572 | 105,317 | 108,643 | 114,137 | 119,724 | 125,422 | 131,120 | 136,818 | 142,516 | 149,037 | 155,559 | 162,141 | 168,789 | 175,392 | 182,701 | |
23 |
1,248 | 1,594 | 2,415 | 3,726 | 5,096 | 6,467 | 3,145 | 2,610 | 1,155 | 1,320 | 1,485 | 226 | 565 | 904 | 1,242 | 723 | 1,002 | 1,391 | |
24 |
4,754 | 4,130 | 5,382 | 5,516 | 7,124 | 3,038 | 3,076 | 1,770 | 1,487 | - | 1,808 | 3,616 | 2,026 | 792 | 772 | 1,253 | 5,841 | 15,317 | |
25 |
0 | 724 | 3,917 | 7,111 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
28 |
2,925 | 3,375 | 3,375 | 3,375 | 3,375 | 3,375 | 3,375 | 3,375 | 3,375 | 3,375 | 3,375 | 3,375 | 3,755 | 3,505 | 4,550 | 4,550 | 4,550 | 3,660 | |
29/58 |
245,939 | 203,700 | 216,270 | 230,499 | 227,976 | 233,556 | 195,131 | 158,149 | 206,626 | 183,256 | 169,117 | 152,960 | 165,742 | 186,790 | 180,089 | 193,300 | 205,899 | 150,334 | |
3 |
137,084 | 115,344 | 117,147 | 109,124 | 120,613 | 120,433 | 116,973 | 121,566 | 122,536 | 102,569 | 109,346 | 104,843 | 101,939 | 102,679 | 96,117 | 92,670 | 89,689 | 69,778 | |
30/36 |
137,084 | 115,344 | 117,147 | 109,124 | 120,613 | 120,433 | 116,973 | 121,566 | 122,536 | 102,569 | 109,346 | 104,843 | 101,939 | 102,679 | 96,117 | 92,670 | 89,689 | 69,778 | |
40/41 |
1,724 | 3,255 | 98 | 31,310 | 14,704 | 24,585 | 11,243 | 14,744 | 9,048 | 16,176 | 4,992 | 6,901 | 15,432 | 3,331 | 6,435 | 15,289 | 7,706 | 10,251 | |
40 |
820 | 369 | 0 | 10,575 | 8,758 | 964 | 482 | 1,147 | 8,698 | 8,564 | 807 | 1,115 | 11,992 | 100 | - | 669 | 175 | 26 | |
41 |
905 | 2,887 | 98 | 20,735 | 5,946 | 23,620 | 10,762 | 13,597 | 351 | 7,612 | 4,185 | 5,786 | 3,440 | 3,231 | 6,435 | 14,620 | 7,531 | 10,225 | |
50/53 |
- | - | - | - | - | - | - | - | - | - | - | - | 25,000 | 40,000 | 50,000 | 50,000 | 50,000 | 50,000 | |
54/58 |
107,131 | 85,062 | 99,024 | 90,065 | 92,659 | 88,539 | 66,915 | 21,840 | 74,540 | 64,015 | 54,779 | 40,892 | 23,371 | 40,780 | 27,518 | 35,341 | 58,221 | 20,305 | |
490/1 |
0 | 39 | - | - | - | - | - | - | 501 | 496 | - | 324 | - | - | 19 | - | 283 | - | |
| Balance sheet: equity and liabilities | |||||||||||||||||||
10/49 |
353,874 | 322,811 | 341,113 | 353,798 | 359,193 | 368,575 | 318,864 | 285,629 | 338,065 | 319,071 | 312,603 | 302,693 | 322,211 | 349,722 | 353,913 | 378,538 | 401,980 | 366,418 | |
10/15 |
308,955 | 281,573 | 291,730 | 292,451 | 325,082 | 285,556 | 289,734 | 262,415 | 266,824 | 233,926 | 220,263 | 186,491 | 153,337 | 155,486 | 156,772 | 159,149 | 153,485 | 138,772 | |
10/11 |
74,500 | 74,500 | 74,500 | 74,500 | 74,500 | 74,500 | 74,500 | 74,500 | 74,500 | - | 74,500 | 74,500 | 74,500 | 74,500 | 74,500 | 74,500 | 74,500 | 74,500 | |
10 |
- | - | - | - | - | - | - | - | - | 74,500 | - | - | - | - | - | - | - | - | |
100 |
- | - | - | - | - | - | 74,500 | 74,500 | 74,500 | 74,500 | 74,500 | 74,500 | 74,500 | 74,500 | 74,500 | 74,500 | 74,500 | 74,500 | |
13 |
234,455 | 207,073 | 217,230 | 217,951 | 250,582 | 211,056 | 215,234 | 187,915 | 192,324 | 159,426 | 145,763 | 111,900 | 78,837 | 80,986 | 82,272 | 84,600 | 78,900 | 64,200 | |
130/1 |
- | - | 0 | 7,450 | 7,450 | 7,450 | - | - | - | - | - | - | - | - | - | - | - | - | |
130 |
- | - | - | - | - | - | 7,450 | 7,450 | 7,450 | 7,450 | 7,450 | 7,450 | 7,450 | 7,450 | 7,450 | 7,450 | 7,450 | 7,450 | |
1311 |
- | - | 0 | 7,450 | - | 0 | - | - | - | - | - | - | - | - | - | - | - | - | |
1319 |
- | - | - | - | 7,450 | 7,450 | - | - | - | - | - | - | - | - | - | - | - | - | |
132 |
- | - | - | - | 0 | 18,750 | 18,750 | 18,750 | 18,750 | 18,750 | 18,750 | 18,750 | 18,750 | 18,750 | 18,750 | 18,750 | 18,750 | 18,750 | |
133 |
234,455 | 207,073 | 217,230 | 210,501 | 243,132 | 184,856 | 189,034 | 161,715 | 166,124 | 133,226 | 119,563 | 85,700 | 52,637 | 54,786 | 56,072 | 58,400 | 52,700 | 38,000 | |
14 |
- | 0 | 0 | - | - | - | - | - | - | - | - | 91 | - | - | - | 49 | 85 | 72 | |
17/49 |
44,919 | 41,238 | 49,382 | 61,347 | 34,110 | 83,019 | 29,130 | 23,214 | 71,241 | 85,145 | 92,340 | 116,202 | 168,874 | 194,236 | 197,141 | 219,389 | 248,495 | 227,646 | |
17 |
- | - | 0 | 1,200 | 3,522 | 5,702 | - | - | 7,233 | 20,060 | 44,225 | 65,303 | 91,665 | 111,859 | 132,621 | 152,259 | 165,672 | 182,499 | |
170/4 |
- | - | 0 | 1,200 | 3,522 | 5,702 | - | - | 7,233 | 20,060 | 44,225 | 65,303 | 91,665 | 111,859 | 132,621 | 152,259 | 165,672 | 182,499 | |
42/48 |
44,919 | 41,238 | 49,382 | 60,147 | 30,588 | 77,318 | 29,130 | 23,214 | 62,616 | 64,585 | 47,615 | 50,399 | 76,852 | 81,841 | 63,906 | 66,630 | 82,823 | 44,647 | |
42 |
- | 0 | 1,200 | 2,322 | 2,179 | 2,045 | 0 | 5,740 | 15,593 | 24,165 | 20,930 | 23,087 | 21,341 | 22,359 | 21,157 | 18,580 | 18,120 | 15,982 | |
44 |
17,291 | 23,508 | 14,747 | 54,258 | 10,341 | 27,047 | 21,252 | 11,950 | 23,535 | 25,522 | 11,235 | 9,325 | 21,604 | 18,760 | 6,569 | 17,513 | 18,369 | 12,430 | |
440/4 |
17,291 | 23,508 | 14,747 | 54,258 | 10,341 | 27,047 | 21,252 | 11,950 | 23,535 | 25,522 | 11,235 | 9,325 | 21,604 | 18,760 | 6,569 | 17,513 | 18,369 | 12,430 | |
45 |
7,320 | 459 | 4,858 | 3,566 | 18,068 | 14,454 | 7,878 | 5,524 | 19,359 | 12,766 | 10,384 | 8,000 | 4,280 | 6,629 | 5,248 | 1,300 | 2,160 | 1,200 | |
450/3 |
7,320 | 459 | 4,858 | 3,566 | 18,068 | 14,454 | 7,878 | 5,524 | 14,759 | 5,566 | 10,384 | 8,000 | 4,280 | 6,629 | 5,248 | 1,300 | 2,160 | 1,200 | |
454/9 |
- | - | - | - | - | - | - | - | 4,600 | 7,200 | - | - | - | - | - | - | - | - | |
47/48 |
20,308 | 17,270 | 28,577 | - | 0 | 33,771 | - | - | 4,129 | 2,132 | 5,066 | 9,987 | 29,627 | 34,093 | 30,932 | 29,237 | 44,174 | 15,035 | |
492/3 |
- | - | - | - | - | - | - | - | 1,392 | 500 | 500 | 500 | 357 | 536 | 614 | 500 | - | 500 | |
| Income statement | |||||||||||||||||||
9900 |
54,943 | -1,077 | 40,242 | -18,025 | 78,319 | 59,820 | 51,728 | 4,055 | 63,825 | 32,434 | 61,989 | 68,840 | 51,148 | 55,468 | 54,403 | 65,983 | 93,136 | 64,966 | |
630 |
16,995 | 6,920 | 13,755 | 12,318 | 11,902 | 10,220 | 8,281 | 7,168 | 6,606 | 7,671 | 7,897 | 9,780 | 9,712 | 10,847 | 12,548 | 17,770 | 22,820 | 22,718 | |
640/8 |
2,454 | 2,243 | 1,960 | 1,470 | 1,881 | 1,797 | 1,829 | 1,807 | 1,655 | 1,668 | 1,664 | 1,762 | 1,896 | 2,564 | 1,666 | 1,374 | 1,248 | 1,459 | |
66A |
- | - | - | - | - | - | - | - | - | - | - | 1,000 | - | - | - | - | - | 1,853 | |
9901 |
35,494 | -10,240 | 24,527 | -31,812 | 64,536 | 47,804 | 41,618 | -4,920 | 55,564 | 23,095 | 52,428 | 57,298 | 39,540 | 42,057 | 40,189 | 46,839 | 69,068 | 40,789 | |
75/76B |
904 | 1,063 | 3,270 | 302 | 1,328 | 919 | 766 | 1,640 | 334 | - | 254 | 1,117 | 1,185 | 2,711 | 596 | 2,991 | 1,123 | 2,497 | |
75 |
904 | 1,063 | 3,270 | 302 | 1,328 | 919 | 766 | 1,640 | 334 | 382 | 254 | 1,117 | 1,185 | 2,711 | 596 | 2,991 | 1,123 | 2,497 | |
65/66B |
1,502 | 981 | 1,090 | 1,121 | 1,792 | 2,562 | 876 | 1,139 | 1,693 | - | 2,773 | 4,252 | 5,980 | 8,401 | 9,206 | 10,128 | 10,504 | 11,520 | |
65 |
1,502 | 981 | 1,090 | 1,121 | 1,792 | 2,562 | 876 | 1,139 | 1,693 | 4,607 | 2,773 | 4,252 | 5,980 | 8,401 | 9,206 | 10,128 | 10,504 | 11,520 | |
9903 |
34,896 | -10,158 | 26,707 | -32,631 | 64,072 | 46,160 | 41,507 | -4,419 | 54,205 | 18,870 | 49,909 | 53,163 | 34,745 | 36,367 | 31,579 | 39,702 | 59,687 | 29,913 | |
67/77 |
7,514 | 0 | 2,428 | -0 | 24,546 | 16,566 | 14,189 | -10 | 21,307 | 5,207 | 16,137 | 11,509 | 10,494 | 10,653 | 8,786 | 7,788 | 2,974 | 2,337 | |
9904 |
27,382 | -10,158 | 24,279 | -32,631 | 39,526 | 29,594 | 27,318 | -4,408 | 32,898 | 13,663 | 33,772 | 41,654 | 24,251 | 25,714 | 22,793 | 31,914 | 56,713 | 27,576 | |
789 |
- | - | - | 0 | 18,750 | - | - | - | - | - | - | - | - | - | - | - | - | - | |
9905 |
27,382 | -10,158 | 24,279 | -32,631 | 58,276 | 29,594 | 27,318 | -4,408 | 32,898 | 13,663 | 33,772 | 41,654 | 24,251 | 25,714 | 22,793 | 31,914 | 56,713 | 27,576 | |
| Appropriation of the result | |||||||||||||||||||
9906 |
27,382 | -10,158 | 24,279 | -32,631 | 58,276 | 29,594 | 27,318 | -4,408 | 32,898 | 13,663 | 33,863 | 41,654 | 24,251 | 25,714 | 22,842 | 31,999 | 56,785 | 27,672 | |
791/2 |
0 | 10,158 | 25,000 | 32,631 | 0 | 33,771 | 0 | 4,408 | - | - | - | - | 2,149 | 1,286 | 2,328 | - | - | - | |
691/2 |
27,382 | 0 | 24,279 | 0 | 58,276 | 29,594 | 27,318 | - | 32,898 | 13,663 | 33,863 | 33,063 | - | - | - | 5,700 | 14,700 | 12,600 | |
6921 |
27,382 | 0 | 24,279 | 0 | 58,276 | 29,594 | 27,318 | - | 32,898 | 13,663 | 33,863 | 33,063 | - | - | - | 5,700 | 14,700 | 12,600 | |
694/7 |
- | 0 | 25,000 | - | 0 | 33,771 | - | - | - | - | - | 8,500 | 26,400 | 27,000 | 25,170 | 26,250 | 42,000 | 15,000 | |
694 |
- | 0 | 25,000 | - | 0 | 33,771 | - | - | - | - | - | - | 26,400 | 27,000 | 25,170 | 16,250 | - | - | |
695 |
- | - | - | - | - | - | - | - | - | - | - | 8,500 | - | - | - | 10,000 | 42,000 | 15,000 | |
| Document | |||||||||||||||||||
The accounts for 5 older financial years (2003-2007) were filed as documents without figures as data, scans for example.
The notes to these accounts have 14 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 28-04-2026.
Filings
each dot is a set of accounts, on the day it reached the National Bank| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-09-2025 | abbreviated format | 28-04-2026 | 2026-00091215 | |
| 30-09-2024 | abbreviated format | 08-04-2025 | 2025-00066765 | |
| 30-09-2023 | abbreviated format | 19-03-2024 | 2024-00046637 | |
| 30-09-2022 | abbreviated format | 28-04-2023 | 2023-00075942 | |
| 30-09-2021 | abbreviated format | 28-03-2022 | 2022-08900200 | |
| 30-09-2020 | micro format | 29-03-2021 | 2021-08800580 | |
| 30-09-2019 | micro format | 22-04-2020 | 2020-09600515 | |
| 30-09-2018 | micro format | 09-04-2019 | 2019-09600594 | |
| 30-09-2017 | micro format | 12-04-2018 | 2018-09700291 | |
| 30-09-2016 | abbreviated format | 18-05-2017 | 2017-12600017 | |
| 30-09-2015 | abbreviated format | 27-04-2016 | 2016-10900168 | |
| 30-09-2014 | abbreviated format | 28-04-2015 | 2015-10700411 | |
| 30-09-2013 | abbreviated format | 15-04-2014 | 2014-09200367 | |
| 30-09-2012 | abbreviated format | 09-04-2013 | 2013-08600323 | |
| 30-09-2011 | abbreviated format | 13-04-2012 | 2012-08600307 | |
| 30-09-2010 | abbreviated format | 05-05-2011 | 2011-10400257 | |
| 30-09-2009 | abbreviated format | 30-03-2010 | 2010-08200099 | |
| 30-09-2008 | abbreviated format | 07-04-2009 | 2009-10600290 | |
| 30-09-2007 | abbreviated format | 31-03-2008 | 2008-08800011 | |
| 30-09-2006 | abbreviated format | 26-03-2007 | 2007-08400097 | |
| 30-09-2005 | abbreviated format | 24-04-2006 | 2006-11400120 | |
| 30-09-2004 | abbreviated format | 22-03-2005 | 2005-07800249 | |
| 30-09-2003 | abbreviated format | 13-04-2004 | 2004-10500205 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 52,489 | -3,320 | 38,282 | -19,495 | 76,438 | 58,024 | 49,899 | 2,248 | 62,171 | 30,766 | 60,325 | 67,078 | 49,252 | 52,904 | 52,737 | 64,609 | 91,888 | 63,507 | ||
| 44,377 | -3,238 | 38,034 | -20,313 | 51,428 | 39,814 | 35,599 | 2,759 | 39,504 | 21,334 | 41,669 | 51,434 | 33,963 | 36,561 | 35,341 | 49,684 | 79,533 | 50,294 | ||
| 6,993 | 1,188 | 15,299 | 4,401 | 8,099 | 21,506 | 4,534 | 3,208 | 2,231 | 0 | 1,650 | 5,623 | 3,250 | 1,000 | 1,133 | 6,928 | 2,817 | 5,526 | ||
| 22,069 | -13,962 | 8,960 | -2,594 | 4,121 | 21,624 | 45,075 | -52,700 | 10,525 | 9,236 | 13,887 | 17,521 | -17,409 | 13,262 | -7,823 | -22,880 | 37,916 | - | ||
| 201,020 | 162,462 | 166,887 | 170,352 | 197,388 | 156,239 | 166,001 | 134,936 | 144,009 | 118,671 | 121,502 | 102,561 | 88,890 | 104,949 | 116,183 | 126,670 | 123,076 | 105,687 | ||
| 87.3% | 87.2% | 85.5% | 82.7% | 90.5% | 77.5% | 90.9% | 91.9% | 78.9% | 73.3% | 70.5% | 61.6% | 47.6% | 44.5% | 44.3% | 42.0% | 38.2% | 37.9% | ||
| 5.48 | 4.94 | 4.38 | 3.83 | 7.45 | 3.02 | 6.70 | 6.81 | 3.30 | 2.84 | 3.55 | 3.03 | 2.16 | 2.28 | 2.82 | 2.90 | 2.49 | 3.37 | ||
| 2.42 | 2.14 | 2.01 | 2.02 | 3.51 | 1.46 | 2.68 | 1.58 | 1.34 | 1.25 | 1.26 | 0.95 | 0.83 | 1.03 | 1.31 | 1.51 | 1.40 | 1.80 | ||
| 0.15 | 0.15 | 0.17 | 0.21 | 0.10 | 0.29 | 0.10 | 0.09 | 0.27 | 0.36 | 0.42 | 0.62 | 1.10 | 1.25 | 1.26 | 1.38 | 1.62 | 1.64 | ||
| 8.9% | -3.6% | 8.3% | -11.2% | 12.2% | 10.4% | 9.4% | -1.7% | 12.3% | 5.8% | 15.3% | 22.3% | 15.8% | 16.5% | 14.5% | 20.1% | 37.0% | 19.9% | ||
| 7.7% | -3.1% | 7.1% | -9.2% | 11.0% | 8.0% | 8.6% | -1.5% | 9.7% | 4.3% | 10.8% | 13.8% | 7.5% | 7.4% | 6.4% | 8.4% | 14.1% | 7.5% | ||
| 34.94 | -3.38 | 35.14 | -17.39 | - | - | - | - | - | 6.68 | - | - | - | - | - | - | - | - |
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 | 30-09-2025 | 30-09-2024 | 30-09-2023 | 30-09-2022 |
|---|---|---|---|---|
| Tangible fixed assets | €6,993 | €1,188 | €15,299 | €4,401 |
| €16,995 | €6,920 | €13,755 | €12,318 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Insights on TARGET SOLUTION
The operating result for 2025 is a profit of €35,494, after a loss of €10,240 in 2024. It is the highest result since 2021.
Debt's share of the balance-sheet total falls from 12.8% to 12.7%. Equity and debt are higher.