THE CONCEPT POOL
ActiveFinancials · financial year 2025, micro format
2025 annual accounts filed 19 days after the deadline Filed on 19 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00405788.
Annual accounts 2025 filed on 19-08-2026 at the NBB all 17 filings
Turnover
≈ €170,000
Estimated: probably between €100,000 and €320,000
Total assets
€174,957▼ 0.3%
2024 · €175,540
Net result
-€3,429
2024 · €26,370
Working capital
-€44,484▼ 72.0%
2024 · -€25,861
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
-€6,311
2025
20182025
Net result
-€3,429
2025
lowest quarter of the sector
20182025
Equity
€106,571
▼ 3.1%
2025
middle half of the sector
20182025
Total assets
€174,957
▼ 0.3%
2025
middle half of the sector
20182025
Debt
€68,387
▲ 4.3%
2025
20182025
Working capital
-€44,484
▼ 72.0%
2025
lowest quarter of the sector
20182025
Solvency
60.9%
▼ 1.8pp
2025
middle half of the sector
20182025
Current ratio
0.35
▼ 0.14
2025
lowest quarter of the sector
20182025
Return on assets (ROA)
-2.0%
▼ 17.0pp
2025
lowest quarter of the sector
20182025
Staff (FTE)
0.2
▼ 80.0%
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result-€3,304-€19,002€5,391▼ 71.6%€14,421▲ 168%-€15,201€1,184€28,594▲ 24×-€6,311
Net result-€6,603-€16,010€5,435within the sector's middle half▼ 66.0%€11,228within the sector's middle half▲ 107%-€17,965below the sector's middle half-€5,194below the sector's middle half▲ 71.1%€26,370within the sector's middle half-€3,429below the sector's middle half
Equity€67,916-€83,926▲ 23.6%€89,361within the sector's middle half▲ 6.5%€100,589within the sector's middle half▲ 12.6%€82,623within the sector's middle half▼ 17.9%€77,429within the sector's middle half▼ 6.3%€109,999within the sector's middle half▲ 42.1%€106,571within the sector's middle half▼ 3.1%
Total assets€97,755-€99,401▲ 1.7%€127,195within the sector's middle half▲ 28.0%€255,330within the sector's middle half▲ 101%€213,068within the sector's middle half▼ 16.6%€180,532within the sector's middle half▼ 15.3%€175,540within the sector's middle half▼ 2.8%€174,957within the sector's middle half▼ 0.3%
Debt€29,839-€15,475▼ 48.1%€37,834▲ 144%€154,742▲ 309%€130,445▼ 15.7%€103,103▼ 21.0%€65,541▼ 36.4%€68,387▲ 4.3%
Working capital€65,989-€83,791▲ 27.0%€74,192above the sector's middle half▼ 11.5%€31,971within the sector's middle half▼ 56.9%-€7,053below the sector's middle half-€32,581below the sector's middle half▼ 362%-€25,861below the sector's middle half▲ 20.6%-€44,484below the sector's middle half▼ 72.0%
Solvency69.5%-84.4%▲ 15.0pp70.3%above the sector's middle half▼ 14.2pp39.4%within the sector's middle half▼ 30.9pp38.8%within the sector's middle half▼ 0.6pp42.9%within the sector's middle half▲ 4.1pp62.7%within the sector's middle half▲ 19.8pp60.9%within the sector's middle half▼ 1.8pp
Current ratio3.21-6.41▲ 3.202.96above the sector's middle half▼ 3.451.51within the sector's middle half▼ 1.450.89below the sector's middle half▼ 0.620.47below the sector's middle half▼ 0.410.49below the sector's middle half▲ 0.010.35below the sector's middle half▼ 0.14
Return on assets (ROA)-6.8%-16.1%▲ 22.9pp4.3%within the sector's middle half▼ 11.8pp4.4%within the sector's middle half▲ 0.1pp-8.4%below the sector's middle half▼ 12.8pp-2.9%below the sector's middle half▲ 5.6pp15.0%within the sector's middle half▲ 17.9pp-2.0%below the sector's middle half▼ 17.0pp
Staff (FTE)0.81▲ 25.0%1=1=0.2▼ 80.0%
above
within
below
The sector band is the middle half of the companies in Services to buildings and landscape activities (NACE 81). 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 a loss of €6,311, after a profit of €28,594 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 €174,957
Fixed assets
€151,055 =
Current assets
€23,902 ▼ 2.4%
Equity and liabilities €174,957
Equity
€106,571 ▼ 3.1%
Debt
€68,387 ▲ 4.3%
Debt's share of the balance-sheet total rises from 37.3% to 39.1%. Equity is lower and debt is higher.
Key figures and ratios
Quick ratio
0.08▼
2024 · 0.12
Debt to equity
0.64▲
2024 · 0.60
ROE
-3.2%▼
2024 · 24.0%
Debt ≤ 1 year
€68,387▲
2024 · €50,346
Income taxes
€302▲
2024 · €297
Staff costs
€27,591▼
2024 · €85,136
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 | 1 | 1 | 1 | 1 | - |
| full-time | 1 | 1 | 1 | 1 | - |
| in full-time equivalents | 1 | 1 | 1 | 1 | - |
| Average over the year, in full-time equivalents | 0.8 | 1 | 1 | 1 | 0.2 |
| On a permanent contract | 1 | 1 | 1 | 1 | - |
| Joined | 1 | - | - | - | 0 |
| Left | 0 | - | - | - | 1 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Pledge on the business | - | - | €66,644 | - | - |
| Pledge on other assets, amount secured | - | €91,999 | - | - | - |
| Carrying value of the other pledged assets | €150,920 | - | - | €150,920 | - |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €1,194 | €195 | - | - |
| Financial fixed assets | €150,920 | - | - | - | - |
| Depreciation and write-downs of the year | €5,472 | €5,492 | €4,120 | - | - |
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 |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €4,500 | - | €810 | - | - | - |
| Remuneration, social security and pensions62 | - | - | - | €46,667 | €75,064 | €85,177 | €85,136 | €27,591 | ▼ 67.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €3,050 | €1,792 | €1,384 | €5,472 | €5,492 | €4,120 | - | - | - |
| Other operating charges640/8 | - | - | - | €1,249 | €6,232 | €2,629 | €300 | €571 | ▲ 90.3% |
| Gross operating margin9900 | €3,724 | €22,515 | €8,154 | €67,809 | €71,586 | €93,109 | €114,030 | €21,851 | ▼ 80.8% |
| Operating profit (loss)9901 | -€3,304 | €19,002 | €5,391 | €14,421 | -€15,201 | €1,184 | €28,594 | -€6,311 | - |
| Financial income75/76B | - | - | - | - | - | €0 | €0 | €3,919 | ▲ 78,390× |
| Recurring financial income75 | €256 | - | €738 | - | - | €0 | €0 | €3,919 | ▲ 78,390× |
| Non-recurring financial income76B | - | - | - | - | - | - | - | €3,919 | - |
| Financial charges65/66B | - | - | - | €2,071 | €2,261 | €2,124 | €1,928 | €736 | ▼ 61.8% |
| Recurring financial charges65 | €3,555 | €171 | €150 | €2,071 | €2,261 | €2,124 | €1,928 | €736 | ▼ 61.8% |
| Profit (loss) for the period before taxes9903 | -€6,603 | €18,831 | €5,979 | €12,351 | -€17,462 | -€940 | €26,666 | -€3,127 | - |
| Income taxes67/77 | - | €2,821 | €544 | €1,123 | €503 | €4,254 | €297 | €302 | ▲ 1.7% |
| Profit (loss) for the period9904 | -€6,603 | €16,010 | €5,435 | €11,228 | -€17,965 | -€5,194 | €26,370 | -€3,429 | - |
| Profit (loss) for the period to be appropriated9905 | -€6,603 | €16,010 | €5,435 | €11,228 | -€17,965 | -€5,194 | €26,370 | -€3,429 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €97,755 | €99,401 | €127,195 | €255,330 | €213,068 | €180,532 | €175,540 | €174,957 | ▼ 0.3% |
| Fixed assets21/28 | €1,927 | €135 | €15,169 | €160,617 | €156,320 | €151,055 | €151,055 | €151,055 | = |
| Tangible fixed assets22/27 | €1,792 | - | €15,034 | €9,562 | €5,265 | - | - | - | - |
| Land and buildings22 | - | - | - | - | €1,175 | - | - | - | - |
| Plant, machinery and equipment23 | - | - | - | €8,763 | €3,697 | - | - | - | - |
| Furniture and vehicles24 | - | - | - | €799 | €393 | - | - | - | - |
| Financial fixed assets28 | €135 | €135 | €135 | €151,055 | €151,055 | €151,055 | €151,055 | €151,055 | = |
| Current assets29/58 | €95,828 | €99,266 | €112,026 | €94,713 | €56,749 | €29,477 | €24,485 | €23,902 | ▼ 2.4% |
| Stocks and contracts in progress3 | €19,679 | €14,529 | €6,400 | €6,400 | €18,200 | €18,200 | €18,200 | €18,200 | = |
| Stocks30/36 | - | - | - | €6,400 | €18,200 | €18,200 | €18,200 | €18,200 | = |
| Amounts receivable within one year40/41 | €24,887 | €39,331 | €55,405 | €76,031 | €30,885 | €4,688 | €4,416 | €3,429 | ▼ 22.4% |
| Trade receivables40 | - | - | - | €55,066 | €9,596 | €2,661 | €2,661 | €2,661 | = |
| Other amounts receivable41 | - | - | - | €20,964 | €21,289 | €2,027 | €1,755 | €768 | ▼ 56.2% |
| Cash at bank and in hand54/58 | €48,755 | €43,203 | €49,047 | €11,450 | €7,554 | €6,550 | €1,869 | €2,274 | ▲ 21.6% |
| Deferred charges and accrued income490/1 | - | - | - | €832 | €109 | €40 | - | - | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €97,755 | €99,401 | €127,195 | €255,330 | €213,068 | €180,532 | €175,540 | €174,957 | ▼ 0.3% |
| Equity10/15 | €67,916 | €83,926 | €89,361 | €100,589 | €82,623 | €77,429 | €109,999 | €106,571 | ▼ 3.1% |
| Contributions10/11 | €12,400 | €12,400 | - | €12,400 | €12,400 | €12,400 | €18,600 | €18,600 | = |
| Reserves13 | €1,860 | €1,860 | €7,295 | €18,523 | €18,523 | €18,523 | €18,523 | €18,523 | = |
| Non-distributable reserves130/1 | - | - | - | €18,523 | €18,523 | €18,523 | €18,523 | €18,523 | = |
| Reserves not available under the articles1311 | - | - | - | €18,523 | €18,523 | €18,523 | €18,523 | €18,523 | = |
| Profit (loss) carried forward14 | €53,656 | €69,666 | €69,666 | €69,666 | €51,700 | €46,506 | €72,876 | €69,447 | ▼ 4.7% |
| Amounts payable17/49 | €29,839 | €15,475 | €37,834 | €154,742 | €130,445 | €103,103 | €65,541 | €68,387 | ▲ 4.3% |
| Amounts payable after more than one year17 | - | - | - | €91,999 | €66,644 | €41,044 | €15,195 | - | - |
| Financial debts170/4 | - | - | - | €91,999 | €66,644 | €41,044 | €15,195 | - | - |
| Amounts payable within one year42/48 | €29,839 | €15,475 | €37,834 | €62,742 | €63,801 | €62,059 | €50,346 | €68,387 | ▲ 35.8% |
| Current portion of amounts payable after more than one year42 | - | - | - | €25,112 | €25,355 | €25,600 | €25,850 | €15,195 | ▼ 41.2% |
| Trade debts44 | €1,187 | €1,146 | €4,266 | €7,372 | €8,945 | €10,211 | €8,216 | €3,568 | ▼ 56.6% |
| Suppliers440/4 | - | - | - | €7,372 | €8,945 | €10,211 | €8,216 | €3,568 | ▼ 56.6% |
| Taxes, remuneration and social security45 | - | - | - | €9,278 | €11,042 | €11,304 | €7,382 | €3,244 | ▼ 56.1% |
| Taxes450/3 | - | - | - | €9,278 | €11,042 | €9,104 | €6,361 | €3,244 | ▼ 49.0% |
| Remuneration and social security454/9 | - | - | - | - | - | €2,200 | €1,022 | - | - |
| Other amounts payable47/48 | - | - | - | €20,980 | €18,458 | €14,944 | €8,898 | €46,381 | ▲ 421% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€6,603 | €16,010 | €5,435 | €11,228 | -€17,965 | -€5,194 | €26,370 | -€3,429 | - |
| + Depreciation and write-downs630 | €3,050 | €1,792 | €1,384 | €5,472 | €5,492 | €4,120 | - | - | - |
| Operating cash flow (approximation) | -€3,553 | €17,802 | €6,819 | €16,700 | -€12,474 | -€1,074 | €26,370 | -€3,429 | - |
| Investment in fixed assets (approximation) | - | €0 | -€16,418 | -€150,920 | -€1,194 | €1,145 | €0 | €0 | - |
| Change in cash | - | -€5,552 | €5,844 | -€37,597 | -€3,896 | -€1,005 | -€4,681 | €405 | - |
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 | 19-08-2026 | 2026-00405788 | |
| 31-12-2024 | micro format | 12-08-2025 | 2025-00370361 | |
| 31-12-2023 | micro format | 12-08-2024 | 2024-00338903 | |
| 31-12-2022 | micro format | 27-06-2023 | 2023-00160817 | |
| 31-12-2021 | micro format | 29-06-2022 | 2022-20104051 | |
| 31-12-2020 | micro format | 24-06-2021 | 2021-23800176 | |
| 31-12-2019 | micro format | 13-11-2020 | 2020-70500503 | |
| 31-12-2018 | micro format | 27-06-2019 | 2019-24400204 | |
| 31-12-2017 | micro format | 21-09-2018 | 2018-64000474 | |
| 31-12-2016 | micro format | 23-06-2017 | 2017-22800387 |