THE GLUE
ActiveSummary
THE GLUE has been active since 2015 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €4.1m and a net result of -€300,896. Equity is growing by about 3.8% per year across the filed financial years. Its solvency ranks better than 95% of 1,677 sector peers (NACE 62, financial year 2025). The computed 12-month bankruptcy probability is 0.1% (very low).
Financials · financial year 2025, full format
Turnover
Not included in this filing
EBIT margin
Not included in this filing
Net result
-€300,896▼ 150%
2024 · -€120,480
Working capital
-€278
2024 · €398,455
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result stays negative: a loss of €17,136 in 2025 against €137,798 in 2024; the loss shrinks.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result-€0.02m
2025
Net result-€0.3m
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€4.2m
2025
Equity€4.1m
2025
Debt€0.04m
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital-€278
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)-7.2%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency99.1%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio0.99
2025
Average staff in full-time equivalents (FTE).
Staff (FTE)0
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 62, Computer programming, consultancy and related activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), Staff (FTE).
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result-€3.1m--€0.7m▲ 77.6%€0.3m€0.1m▼ 54.6%-€0.3m€0.5m-€0.1m-€0.02m▲ 87.6%
Net result-€3.1m--€1.0m▲ 66.7%€0.3mabove the sector's middle half-€1.1mbelow the sector's middle half-€0.3mbelow the sector's middle half▲ 72.8%€1.2mabove the sector's middle half-€0.1mbelow the sector's middle half-€0.3mbelow the sector's middle half▼ 150%
Equity€3.5m-€2.4m▼ 29.7%€4.7mabove the sector's middle half▲ 91.0%€3.6mabove the sector's middle half▼ 23.0%€3.3mabove the sector's middle half▼ 8.1%€4.5mabove the sector's middle half▲ 37.6%€4.4mabove the sector's middle half▼ 2.7%€4.1mabove the sector's middle half▼ 6.8%
Total assets€4.6m-€3.1m▼ 32.1%€5.9mabove the sector's middle half▲ 90.7%€4.2mabove the sector's middle half▼ 29.3%€3.8mabove the sector's middle half▼ 9.4%€4.8mabove the sector's middle half▲ 27.2%€4.5mabove the sector's middle half▼ 6.1%€4.2mwithin the sector's middle half▼ 8.5%
Debt€1.1m-€0.7m▼ 39.4%€1.3m▲ 89.6%€0.6m▼ 52.4%€0.5m▼ 17.3%€0.3m▼ 40.8%€0.1m▼ 58.7%€0.04m▼ 69.0%
Working capital€3.3m-€1.3m▼ 60.5%€1.0mabove the sector's middle half▼ 19.3%€0.5mabove the sector's middle half▼ 52.0%€0.2mwithin the sector's middle half▼ 51.5%€0.5mwithin the sector's middle half▲ 113%€0.4mwithin the sector's middle half▼ 23.1%-€278within the sector's middle half
Solvency75.8%-78.4%▲ 2.6pp78.5%above the sector's middle half▲ 0.1pp85.5%above the sector's middle half▲ 7.0pp86.8%above the sector's middle half▲ 1.3pp93.8%above the sector's middle half▲ 7.1pp97.3%above the sector's middle half▲ 3.5pp99.1%above the sector's middle half▲ 1.8pp
Current ratio4.24-3.09▼ 1.153.01within the sector's middle half▼ 0.082.55within the sector's middle half▼ 0.462.14within the sector's middle half▼ 0.412.80within the sector's middle half▲ 0.664.53above the sector's middle half▲ 1.730.99within the sector's middle half▼ 3.54
Return on assets (ROA)-67.8%--33.2%▲ 34.6pp5.3%within the sector's middle half▲ 38.5pp-25.5%below the sector's middle half▼ 30.8pp-7.7%below the sector's middle half▲ 17.9pp25.6%above the sector's middle half▲ 33.3pp-2.7%below the sector's middle half▼ 28.3pp-7.2%below the sector's middle half▼ 4.6pp
Staff (FTE)6.8-6.1▼ 10.3%4within the sector's middle half▼ 34.4%2.7within the sector's middle half▼ 32.5%2.8within the sector's middle half▲ 3.7%0below the sector's middle half0below the sector's middle half
above
within
below
the middle half of NACE 62, Computer programming, consultancy and related activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Why a figure moved sharply
- 2025 Net result -150% on 2024. The accounts now follow the full format, last year the abbreviated format.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €4.2m
Fixed assets
€4.1m ▲ 2.3%
Current assets
€32,825 ▼ 93.6%
Equity and liabilities €4.2m
Equity
€4.1m ▼ 6.8%
Debt
€38,103 ▼ 69.0%
Debt's share of the balance-sheet total falls from 2.7% to 0.9%. Equity and debt are lower.
Key figures and ratios
Debt to equity
0.01▼
2024 · 0.03
ROE
-7.3%▼
2024 · -2.7%
Debt ≤ 1 year
€33,103▼
2024 · €112,964
Income taxes
-€45,103▼
2024 · €0
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €0.01m | €0.03m | €0.02m | €0.01m | €250 | ▼ 97.4% |
| Remuneration, social security and pensions62 | - | - | - | €0.3m | €0.09m | €0 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.07m | €0.06m | €0.06m | €0.05m | €0.03m | €0.007m | €0 | - | - |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | -€256 | €0 | - | - | - |
| Other operating charges640/8 | - | - | - | €0.006m | €0.002m | €0.07m | €0.002m | €0.001m | ▼ 32.0% |
| Non-recurring operating charges66A | - | - | - | - | €0.002m | €0 | - | €0 | - |
| Gross operating margin9900 | -€2.4m | €0.05m | €0.8m | €0.5m | -€0.1m | €0.6m | -€0.1m | -€0.02m | ▲ 88.3% |
| Operating profit (loss)9901 | -€3.1m | -€0.7m | €0.3m | €0.1m | -€0.3m | €0.5m | -€0.1m | -€0.02m | ▲ 87.6% |
| Financial income75/76B | - | - | - | €0.01m | €0 | €0.8m | €0.02m | €0.01m | ▼ 45.5% |
| Recurring financial income75 | €0.01m | €0.02m | €0.003m | €0.01m | €0 | €0.002m | €0.02m | €0.01m | ▼ 45.5% |
| Non-recurring financial income76B | - | - | - | - | - | €0.8m | €0 | - | - |
| Financial charges65/66B | - | - | - | €1.2m | €0.02m | €0.001m | €0.001m | €0.3m | ▲ 358× |
| Recurring financial charges65 | €0.009m | €0.004m | €0.002m | -€0.02m | €0.001m | €0.001m | €0.001m | €231 | ▼ 69.1% |
| Non-recurring financial charges66B | - | - | - | €1.2m | €0.02m | €0 | €200 | €0.3m | ▲ 1,692× |
| Profit (loss) for the period before taxes9903 | -€3.1m | -€1.0m | €0.3m | -€1.1m | -€0.3m | €1.3m | -€0.1m | -€0.3m | ▼ 187% |
| Income taxes67/77 | €0.001m | €0.001m | €0.005m | €0.002m | -€8 | €0.05m | €0 | -€0.05m | - |
| Profit (loss) for the period9904 | -€3.1m | -€1.0m | €0.3m | -€1.1m | -€0.3m | €1.2m | -€0.1m | -€0.3m | ▼ 150% |
| Profit (loss) for the period to be appropriated9905 | -€3.1m | -€1.0m | €0.3m | -€1.1m | -€0.3m | €1.2m | -€0.1m | -€0.3m | ▼ 150% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €4.6m | €3.1m | €5.9m | €4.2m | €3.8m | €4.8m | €4.5m | €4.2m | ▼ 8.5% |
| Fixed assets21/28 | €0.3m | €1.2m | €4.4m | €3.4m | €3.3m | €4.0m | €4.0m | €4.1m | ▲ 2.3% |
| Intangible fixed assets21 | €0.02m | €0.01m | €0.006m | €0.002m | €0.001m | €0 | - | - | - |
| Tangible fixed assets22/27 | €0.3m | €0.2m | €0.2m | €0.1m | €0.1m | €0.001m | €0 | - | - |
| Plant, machinery and equipment23 | - | - | - | €0.002m | €0.001m | €200 | €0 | - | - |
| Furniture and vehicles24 | - | - | - | €0.001m | €0.005m | €0.001m | €0 | - | - |
| Leasing and similar rights25 | - | - | - | €0.01m | €0 | - | - | - | - |
| Other tangible fixed assets26 | - | - | - | €0.1m | €0.09m | €0 | - | - | - |
| Financial fixed assets28 | €0.003m | €1.0m | €4.2m | €3.3m | €3.3m | €4.0m | €4.0m | €4.1m | ▲ 2.3% |
| Current assets29/58 | €4.3m | €1.9m | €1.6m | €0.8m | €0.5m | €0.8m | €0.5m | €0.03m | ▼ 93.6% |
| Amounts receivable after more than one year29 | - | - | - | €1 | €1 | €0.2m | €0.4m | €0 | ▼ 100% |
| Other amounts receivable291 | - | - | - | €1 | €1 | €0.2m | €0.4m | €0 | ▼ 100% |
| Amounts receivable within one year40/41 | €1.6m | €1.0m | €0.5m | €0.4m | €0.3m | €0.6m | €0.06m | €0.001m | ▼ 98.8% |
| Trade receivables40 | - | - | - | €0.3m | €0.3m | €0.6m | €0.03m | €0 | ▼ 100% |
| Other amounts receivable41 | - | - | - | €0.06m | €0.01m | €0.002m | €0.03m | €0.001m | ▼ 97.4% |
| Cash at bank and in hand54/58 | €2.3m | €0.9m | €0.9m | €0.4m | €0.2m | €0 | €0.03m | €0.03m | ▲ 10.7% |
| Deferred charges and accrued income490/1 | - | - | - | €0.03m | €0.001m | €0.008m | €0.02m | €0 | ▼ 100% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €4.6m | €3.1m | €5.9m | €4.2m | €3.8m | €4.8m | €4.5m | €4.2m | ▼ 8.5% |
| Equity10/15 | €3.5m | €2.4m | €4.7m | €3.6m | €3.3m | €4.5m | €4.4m | €4.1m | ▼ 6.8% |
| Contributions10/11 | €0.2m | €0.2m | €0.2m | €13.8m | €13.8m | €13.8m | €13.8m | €13.8m | = |
| Capital10 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Issued capital100 | - | - | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | = |
| Contributions outside capital11 | - | - | - | €13.5m | €13.5m | €13.5m | €13.5m | €13.5m | = |
| Share premium1100/10 | - | - | - | €13.5m | €13.5m | €13.5m | €13.5m | €13.5m | = |
| Profit (loss) carried forward14 | -€8.4m | -€9.4m | -€9.1m | -€10.2m | -€10.5m | -€9.2m | -€9.4m | -€9.7m | ▼ 3.2% |
| Amounts payable17/49 | €1.1m | €0.7m | €1.3m | €0.6m | €0.5m | €0.3m | €0.1m | €0.04m | ▼ 69.0% |
| Amounts payable after more than one year17 | €0.1m | €0.05m | €0.01m | €0 | - | - | - | - | - |
| Financial debts170/4 | - | - | - | €0 | - | - | - | - | - |
| Amounts payable within one year42/48 | €1.0m | €0.6m | €0.5m | €0.3m | €0.2m | €0.3m | €0.1m | €0.03m | ▼ 70.7% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.01m | €0 | - | - | - | - |
| Financial debts43 | - | - | - | - | - | €0.004m | €0 | - | - |
| Credit institutions430/8 | - | - | - | - | - | €0.004m | €0 | - | - |
| Trade debts44 | €0.9m | €0.5m | €0.3m | €0.3m | €0.2m | €0.1m | €0.07m | €0.03m | ▼ 51.2% |
| Suppliers440/4 | - | - | - | €0.3m | €0.2m | €0.1m | €0.07m | €0.03m | ▼ 51.2% |
| Taxes, remuneration and social security45 | - | - | - | €0.02m | €0.005m | €0.2m | €0.05m | €0 | ▼ 100% |
| Taxes450/3 | - | - | - | €0.009m | €0.005m | €0.2m | €0.05m | €0 | ▼ 100% |
| Remuneration and social security454/9 | - | - | - | €0.008m | €0 | - | - | - | - |
| Other amounts payable47/48 | - | - | - | €0.01m | €0.008m | €82 | €0 | - | - |
| Accrued charges and deferred income492/3 | - | - | - | €0.3m | €0.3m | €0.01m | €0.01m | €0.005m | ▼ 50.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€3.1m | -€1.0m | €0.3m | -€1.1m | -€0.3m | €1.2m | -€0.1m | -€0.3m | ▼ 150% |
| + Depreciation and write-downs630 | €0.07m | €0.06m | €0.06m | €0.05m | €0.03m | €0.007m | €0 | - | - |
| Operating cash flow (approximation) | -€3.0m | -€1.0m | €0.4m | -€1.0m | -€0.3m | €1.2m | -€0.1m | -€0.3m | ▼ 150% |
| Investment in fixed assets (approximation) | - | -€1.0m | -€3.2m | €1.0m | -€0.001m | -€0.7m | €0.001m | -€0.09m | - |
| Change in cash | - | -€1.4m | -€0.02m | -€0.5m | -€0.2m | -€0.2m | €0.03m | €0.003m | ▼ 89.3% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 11 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | full format | 15-07-2026 | 2026-00294087 |
| 31-12-2024 | abbreviated format | 18-06-2025 | 2025-00148349 |
| 31-12-2023 | full format | 02-10-2024 | 2024-00490598 |
| 31-12-2023 | abbreviated format | 10-07-2024 | 2024-00235936 |
| 31-12-2022 | abbreviated format | 18-07-2023 | 2023-00274620 |
| 31-12-2021 | abbreviated format | 28-06-2022 | 2022-20110217 |
| 31-12-2020 | abbreviated format | 29-06-2021 | 2021-26000030 |
| 31-12-2019 | abbreviated format | 30-06-2020 | 2020-22300476 |
| 31-12-2018 | abbreviated format | 17-06-2019 | 2019-18600027 |
| 31-12-2017 | abbreviated format | 06-07-2018 | 2018-29100001 |
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Of the 3,178 active companies whose main activity is other information technology and computer services (NACE 62900), figures are known for 1,794. 315 are within a factor 10 of this equity. These 5 are the closest to it. See the whole sector
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.