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TRACE

Active Public limited companyfounded 1989active for 37 yearsDrève des Chataigniers 22, 1410 WaterlooKBO/BCE: BE 0436.990.839
TRACE
Financial year 2025
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Annual accounts 2025

micro format, filed on 10-04-2026, 20 days before the deadline
€123,169
▲ 3.8%
€54,352
▲ 11.7%
€110,532
▲ 3.5%
€94,396
▲ 2.8%
-40.1%
▲ 5.2 percentage points
0.08
▼ 0.01

The turnover shown is an estimate from the gross margin.

Turnover ≈ €230,000. Estimated: probably between €170,000 and €450,000.

Money flows

no detail for 2025

Balance sheet

balance sheet total €616,701 on 30-09-2025
What the company ownsHow it is paid for

in euro

in euro

Position in the sector

Compare with sector

-40.1%

Higher than 8% of 8,611 companies in 2025.

0.08

Lower than 95% of 8,288 companies in 2025.

6.2%

Higher than 41% of 8,397 companies in 2025.

TRACE Middle half of the sector 80% of the sector Micro accounts in advertising and market research (NACE 73)

Net result: middle half · Equity: bottom quarter · Balance sheet total: top quarter · Working capital: bottom quarter

Filed annual accounts

as filed with the National Bank, click a year to choose it
Line Trend2025202420232022202120202019201820172016201520142013201220112010200920082007
Balance sheet: assets
20/58 616,701630,172648,646680,251701,119762,2161.1m1.1m1.1m1.1m1.1m1.2m1.2m1.2m1.3m1.3m1.4m1.5m1.5m
21/28 549,978548,715550,143604,501667,435736,4981.1m1.1m1.1m1.1m1.1m1.1m1.1m1.1m1.1m1.1m1.1m1.1m1.1m
21 --------0-0-------0
22/27 549,953548,690550,118604,476667,410736,473131,660137,610144,025150,238140,219148,411153,723126,942127,596128,666130,169141,209156,873
22 321,325328,077339,479350,881362,283373,967123,467123,806124,145124,485124,824125,163125,502125,841126,180126,519126,858127,198127,537
23 174,721219,377209,046253,595305,126361,4011,5261,2271,3931,0421,2842,096---007901,557
24 53,9081,2361,593--1,1046,66712,57718,48624,71114,11221,15328,2211,1011,4152,1473,31013,22127,779
26 --------0-0-------0
28 252525252525945,693945,693945,693945,693945,693945,693945,693945,693945,693945,693945,693945,693945,693
29/58 66,72381,45798,50375,75033,68425,7183,92710,4799,77212,27114,91483,702118,847165,638270,799267,193323,440370,595417,340
3 ----3,693--------------
30/36 ----3,693--------------
40/41 02,2823,03110,8013,1112,4321,9925,5192,7093,8644,8785,01528,75126,6756,8093,28160,83980,635116,935
40 067-7,698170--5,5192,7093,8644,8785,01527,2968,4035,7853,06714,02011,45319,473
41 02,2153,0313,1022,9402,4321,992-----1,45518,2731,02421446,81969,18297,463
54/58 60,64875,12289,79961,66421,11919,2441,0714,9607,0648,40710,03577,87589,600137,350263,991263,449262,601289,960300,032
490/1 6,0754,0535,6733,2865,7624,042864----8114971,612-463--372
Balance sheet: equity and liabilities
10/49 616,701630,172648,646680,251701,119762,2161.1m1.1m1.1m1.1m1.1m1.2m1.2m1.2m1.3m1.3m1.4m1.5m1.5m
10/15 -247,571-285,788-319,446-340,684-361,068-337,580123,0191.0m1.0m996,539987,726973,7691.1m1.1m1.1m1.1m1.1m1.1m1.1m
10/11 62,00062,00062,00062,00062,00062,00062,000948,500948,500948,500948,500948,50062,00062,00062,00062,00062,00062,00062,000
10 62,00062,00062,00062,00062,000--------------
100 62,00062,00062,00062,00062,00062,00062,000948,500948,500948,500948,500948,50062,00062,00062,00062,00062,00062,00062,000
13 63,90263,90263,90263,90263,90263,90263,90263,90242,05932,59932,59932,59932,59932,59932,59932,59932,59932,59932,599
130/1 28,04228,04228,04228,04228,04228,042-------------
130 28,04228,04228,04228,04228,04228,04228,04228,0426,2006,2006,2006,2006,2006,2006,2006,2006,2006,2006,200
133 35,85935,85935,85935,85935,85935,85935,85935,85935,85926,39926,39926,39926,39926,39926,39926,39926,39926,39926,399
14 -373,472-411,690-445,348-466,585-486,970-463,482-2,883-15,44115,4416,627-7,330985,090985,672990,322979,1051.0m980,995987,237
17/49 864,272915,960968,0921.0m1.1m1.1m958,26281,38093,490111,662113,100204,037138,575158,003259,167267,848304,551381,903438,070
17 47,01430,27567,231109,352150,845191,715-----4,7179,728-----7,024
170/4 47,01430,27567,231109,352150,845191,715-----4,7179,728-----7,024
42/48 815,957882,239899,014909,781909,531906,987958,26281,38093,490111,662113,100199,320128,847158,003259,167267,848304,551381,903431,046
42 8,26136,95642,12041,49340,87129,120----4,7175,0114,873---5856,3816,395
44 16,62310,95122,31117,85312,72810,257-2,748010,9313,1962,1983,4542,5529,1153768,26912,2852,726
440/4 16,62310,95122,31117,85312,72810,257-2,748-10,9313,1962,1983,4542,5529,1153768,26912,2852,726
46 ----4,000--------------
45 15,00413,0684,708397380425-7,41312,4086,4775,628102,3624,3462,5423,5007922,80302,156
450/3 15,00413,0684,708397380425-7,41312,4086,4775,628102,3624,3462,5423,5007922,80302,156
47/48 776,069821,265829,874850,038851,552867,186958,26271,21981,08394,25499,55989,750116,174152,909246,551266,680292,894363,237419,769
492/3 1,3013,4451,8471,8021,8121,093-------------
Income statement
70 -----------------0106,673
9900 123,169118,688102,26399,21866,89255,6145,36820,25035,54930,46832,3993,97716,9467,02418,5025,56818,66711,47623,597
60/61 -----------------083,076
630 56,17958,20161,44262,93473,41466,6326,9407,13113,86612,8968,1928,2137,6111,2271,5511,50311,04016,17516,072
640/8 12,63811,77912,34912,2989,9087,5141,2101,6331,5402,3351,6291,9393,4251,7572,53431,1223,8821,6151,626
66A 066---440,521-------------
9901 54,35248,64228,47223,987-16,429-459,052-2,78211,48620,14315,23822,579-6,1755,9104,04014,417-27,0563,745-6,3135,899
75/76B --203-2,7340-06925,1731,1508279934,87918,7499261,406
75 --203-2,7340-06925,1731,1508279934,87918,7499261,406
65/66B 1,2811,9172,5473,2176,6793,8581037361,4682,6884,9986,2197,4989,6001371552,1059281,311
65 1,2811,9172,5473,2176,6793,8581037361,4682,6884,9986,2197,4989,6001371552,1059281,311
9903 53,07246,72525,94520,773-23,109-460,176-2,88510,75018,67512,55517,672-7,222-437-4,73315,273-22,33220,389-6,3145,994
67/77 14,85413,0674,708388380423-24,3499,2143,7423,715198144-824,056-1,2851,231-72-189
9904 38,21733,65821,23720,385-23,488-460,599-2,8836,4029,4608,81413,957-7,420-582-4,65111,217-21,04719,157-6,2426,183
9905 38,21733,65821,23720,385-23,488-460,599-2,8836,4029,4608,81413,957-7,420-582-4,65111,217-21,04719,157-6,2426,183
Appropriation of the result
9906 -373,472-411,690-445,348-466,585-486,970-463,482-2,88321,84224,90115,4416,627977,670985,090985,672990,322979,1051.0m980,995987,237
14P -411,690-445,348-466,585-486,970-463,482--------------
691/2 -------21,8429,460----------
6920 -------21,842-----------
6921 --------9,460----------
694/7 -----------985,000-------
694 -----------985,000-------
Document PDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDFPDF

The accounts for 18 older financial years (1989-2006) were filed as documents without figures as data, scans for example.

The notes to these accounts have 13 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 10-04-2026.

Download as CSV

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 micro format 10-04-2026 2026-00081182 PDF
30-09-2024 micro format 31-03-2025 2025-00060385 PDF
30-09-2023 micro format 23-04-2024 2024-00067954 PDF
30-09-2022 full format 13-04-2023 2023-00059592 PDF
30-09-2021 full format 07-04-2022 2022-20001711 PDF
30-09-2020 full format 06-04-2021 2021-09800127 PDF
30-09-2019 full format 30-04-2020 2020-10800047 PDF
30-09-2018 full format 26-03-2019 2019-08000088 PDF
30-09-2017 full format 03-05-2018 2018-12100307 PDF
30-09-2016 full format 03-04-2017 2017-08800450 PDF
30-09-2015 full format 03-05-2016 2016-11700436 PDF
30-09-2014 full format 29-04-2015 2015-11100342 PDF
30-09-2013 full format 25-03-2014 2014-07400199 PDF
30-09-2012 full format 02-05-2013 2013-11500523 PDF
30-09-2011 full format 09-05-2012 2012-11200287 PDF
30-09-2010 full format 29-04-2011 2011-10200325 PDF
30-09-2009 full format 11-05-2010 2010-11600445 PDF
30-09-2008 full format 14-04-2009 2009-11300216 PDF
30-09-2007 full format 17-04-2008 2008-11000022 PDF
30-09-2006 full format 30-03-2007 2007-10104070 PDF
30-09-2005 full format 30-10-2006 2006-85301120 PDF
30-09-2004 full format 04-05-2005 2005-13900118 PDF
30-09-2003 full format 14-04-2004 2004-10900060 PDF
30-09-2002 full format 31-03-2003 2003-09100158 PDF
30-09-2001 full format 18-04-2002 2002-09900124 PDF
30-09-2000 full format 04-04-2001 2001-08500198 PDF
30-09-1999 full format 19-06-2000 2000-23700127 PDF
30-09-1998 full format 07-04-1999 1999-07201943 PDF
30-09-1997 full format 14-04-1998 1998-06603611 PDF
30-09-1996 full format 07-04-1997 1997-05203951 PDF
30-09-1995 full format 24-04-1996 1996-06502136 PDF
30-09-1994 full format 21-04-1995 1995-05902890 PDF
30-09-1993 full format 25-03-1994 1994-04505155 PDF
30-09-1992 full format 06-05-1993 1993-06701948 PDF
30-09-1991 full format 15-06-1992 1992-11000733 PDF
30-09-1990 full format 18-06-1991 1991-11004065 PDF
30-09-1989 full format 27-09-1990 1990-24804828 PDF

Key figures and ratios

per financial year, computed from the annual accounts
Line Trend2025202420232022202120202019201820172016201520142013201220112010200920082007
110,532106,84389,91486,92056,985-392,4204,15818,61734,00928,13330,7702,03813,5215,26715,968-25,55414,7859,86221,972
94,39691,85982,67983,31849,926-393,9674,05813,53323,32721,70922,1497947,029-3,42312,768-19,54430,1979,93222,255
57,44256,8397,08404,3511.4m9917167,65422,91402,90134,39257448000510448,017
-14,474-14,67728,13540,5451,87518,173-3,889-2,104-1,343-1,628-67,840-11,724-47,750-126,641541848-27,359-10,072-
-749,234-800,783-800,511-834,031-875,846-881,269-954,334-70,901-83,718-99,391-98,186-115,618-10,0007,63511,633-65518,889-11,308-13,707
------------------5.5%
-40.1%-45.4%-49.2%-50.1%-51.5%-44.3%11.4%92.6%91.5%89.9%89.7%82.7%88.6%87.2%80.7%80.0%78.2%73.8%71.2%
0.080.090.110.080.040.030.000.130.100.110.130.420.921.051.041.001.060.970.97
0.080.090.110.080.030.030.000.130.100.110.130.420.921.051.041.001.060.970.97
------7.790.080.090.110.110.210.130.150.240.250.280.360.40
-------2.3%0.6%0.9%0.9%1.4%-0.8%-0.1%-0.4%1.0%-2.0%1.7%-0.6%0.6%
6.2%5.3%3.3%3.0%-3.4%-60.4%-0.3%0.6%0.9%0.8%1.3%-0.6%0.0%-0.4%0.8%-1.6%1.4%-0.4%0.4%
86.3055.7435.3027.028.53--------------
------------------67 days
------------------12 days

EBIT margin: not included in this filing.

Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.

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
Item30-09-202530-09-202430-09-202330-09-202230-09-2021
Tangible fixed assets€57,442€56,839€7,084-€4,351
€56,179€58,201€61,442€62,934€73,414

Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)

Insights on TRACE

The operating result for 2025 is 12% higher than in 2024 and the highest since 2007. It is the fifth rise in a row, after the fall in 2020.

Equity is negative. Debt (€864,272) exceeds the balance-sheet total (€616,701).

Large changes and their cause
  • 2021 Net result +95% on 2020. Merger absorbing IMMOBILIERE DE LA COURONNE, Official Gazette 22-06-2020, in the previous financial year. That operation now counts for a full year for the first time.

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