Financials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 31-07-2026 at the NBB all 2 filings
Turnover
≈ €1.1m
Estimated: probably between €800,000 and €2.1m
Total assets
€10.6m▲ 4.2%
2024 · €10.2m
Net result
€345,837
2024 · -€57,028
Working capital
-€456,530▲ 92.8%
2024 · -€6.3m
Multi-year overview
2024 to 2025, 2 financial yearsOperating result
€357,227
2025
20242025
Net result
€345,837
2025
highest quarter of the sector
20242025
Equity
€6.3m
▲ 77.6%
2025
highest quarter of the sector
20242025
Total assets
€10.6m
▲ 4.2%
2025
highest quarter of the sector
20242025
Debt
€4.4m
▼ 34.5%
2025
20242025
Working capital
-€456,530
▲ 92.8%
2025
lowest quarter of the sector
20242025
Solvency
58.8%
▲ 24.3pp
2025
middle half of the sector
20242025
Current ratio
0.50
▲ 0.45
2025
lowest quarter of the sector
20242025
Return on assets (ROA)
3.3%
▲ 3.8pp
2025
middle half of the sector
20242025
Staff (FTE)
0.7
2025
middle half of the sector
20242025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20242025
Operating result-€0.06m-€0.4m
Net result-€0.06mbelow the sector's middle half-€0.3mabove the sector's middle half
Equity€3.5mabove the sector's middle half-€6.3mabove the sector's middle half▲ 77.6%
Total assets€10.2mabove the sector's middle half-€10.6mabove the sector's middle half▲ 4.2%
Debt€6.7m-€4.4m▼ 34.5%
Working capital-€6.3mbelow the sector's middle half--€0.5mbelow the sector's middle half▲ 92.8%
Solvency34.5%within the sector's middle half-58.8%within the sector's middle half▲ 24.3pp
Current ratio0.05below the sector's middle half-0.50below the sector's middle half▲ 0.45
Return on assets (ROA)-0.6%below the sector's middle half-3.3%within the sector's middle half▲ 3.8pp
Staff (FTE)0within the sector's middle half-0.7within the sector's middle half
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.
The operating result for 2025 is a profit of €357,227, after a loss of €57,006 in 2024.
Large changes and their cause
- 2025 Equity +78% on 2024. Merger absorbing E3O, effective 01-04-2025.
Turnover and EBIT margin are not published. The abbreviated 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 €10.6m
Fixed assets
€10.2m ▲ 3.1%
Current assets
€451,771 ▲ 38.0%
Equity and liabilities €10.6m
Equity
€6.3m ▲ 77.6%
Debt
€4.4m ▼ 34.5%
Debt's share of the balance-sheet total falls from 65.5% to 41.2%. Equity is higher and debt is lower.
Key figures and ratios
ROE
5.5%▲
2024 · -1.6%
Debt ≤ 1 year
€908,302▼
2024 · €6.7m
Debt > 1 year
€3.4m
Income taxes
€123,509
Staff costs
€36,650
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2025 |
|---|---|
| Employees at the balance-sheet date | 1 |
| full-time | 0 |
| part-time | 1 |
| in full-time equivalents | 0.8 |
| Average over the year, in full-time equivalents | 0.7 |
| On a permanent contract | 1 |
| Joined | 1 |
| Left | 0 |
Source: social balance sheet in the 2025 annual accounts
Investments
| Item | 2024 | 2025 |
|---|---|---|
| Intangible fixed assets | - | €3.8m |
| Financial fixed assets | €9.9m | €0 |
| Depreciation and write-downs of the year | - | €285,509 |
Source: notes to the 2024 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Remuneration, social security and pensions62 | - | €36,650 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | €285,509 | - |
| Other operating charges640/8 | €819 | €788 | ▼ 3.8% |
| Gross operating margin9900 | -€56,186 | €680,174 | - |
| Operating profit (loss)9901 | -€57,006 | €357,227 | - |
| Financial income75/76B | - | €215,161 | - |
| Recurring financial income75 | - | €215,161 | - |
| Financial charges65/66B | €22 | €103,043 | ▲ 4,679× |
| Recurring financial charges65 | €22 | €103,043 | ▲ 4,679× |
| Profit (loss) for the period before taxes9903 | -€57,028 | €469,346 | - |
| Income taxes67/77 | - | €123,509 | - |
| Profit (loss) for the period9904 | -€57,028 | €345,837 | - |
| Profit (loss) for the period to be appropriated9905 | -€57,028 | €345,837 | - |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Assets | |||
| Total assets20/58 | €10.2m | €10.6m | ▲ 4.2% |
| Fixed assets21/28 | €9.9m | €10.2m | ▲ 3.1% |
| Intangible fixed assets21 | - | €3.5m | - |
| Financial fixed assets28 | €9.9m | €6.7m | ▼ 32.6% |
| Current assets29/58 | €0.3m | €0.5m | ▲ 38.0% |
| Amounts receivable within one year40/41 | €0.01m | €0.4m | ▲ 25× |
| Trade receivables40 | €0.003m | €0.3m | ▲ 89× |
| Other amounts receivable41 | €0.01m | €0.1m | ▲ 764% |
| Cash at bank and in hand54/58 | €0.3m | €0.08m | ▼ 74.1% |
| Deferred charges and accrued income490/1 | - | €379 | - |
| Equity and liabilities | |||
| Total equity and liabilities10/49 | €10.2m | €10.6m | ▲ 4.2% |
| Equity10/15 | €3.5m | €6.3m | ▲ 77.6% |
| Contributions10/11 | €3.6m | €6.0m | ▲ 66.7% |
| Profit (loss) carried forward14 | -€0.06m | €0.3m | - |
| Amounts payable17/49 | €6.7m | €4.4m | ▼ 34.5% |
| Amounts payable after more than one year17 | - | €3.4m | - |
| Financial debts170/4 | - | €3.4m | - |
| Amounts payable within one year42/48 | €6.7m | €0.9m | ▼ 86.4% |
| Current portion of amounts payable after more than one year42 | €6.7m | €0.7m | ▼ 89.7% |
| Trade debts44 | €0.02m | €0.2m | ▲ 906% |
| Suppliers440/4 | €0.02m | €0.2m | ▲ 906% |
| Taxes, remuneration and social security45 | - | €0.03m | - |
| Taxes450/3 | - | €0.03m | - |
| Remuneration and social security454/9 | - | €0.005m | - |
| Other amounts payable47/48 | - | €0.03m | - |
| Accrued charges and deferred income492/3 | - | €0.03m | - |
| Line | 2024 | 2025 | Change |
|---|---|---|---|
| Profit (loss) for the period9904 | -€57,028 | €345,837 | - |
| + Depreciation and write-downs630 | - | €285,509 | - |
| Operating cash flow (approximation) | -€57,028 | €631,346 | - |
| Investment in fixed assets (approximation) | - | -€593,260 | - |
| Change in cash | - | -€231,488 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.