UL3
ActiveSummary
UL3 has been active since 1991 and the Belgian Official Gazette contains no insolvency or warning signals. The 2025 annual accounts show equity of €5.6m and a net result of €1.0m. Equity is growing by about 7.6% per year across the filed financial years. Its solvency ranks better than 49% of 3,850 sector peers (NACE 70, financial year 2025). The computed 12-month bankruptcy probability is below 0.1% (very low).
Financials · financial year 2025, full format
Turnover
€2.2m
EBIT margin
77.4%
Net result
€1.0m▲ 779%
2024 · €116,605
Working capital
-€3.9m▲ 20.8%
2024 · -€4.9m
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result falls in 2025; 2025 is 61% below 2024.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result€1.7m
2025
Net result€1.0m
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€10.6m
2025
Equity€5.6m
2025
Debt€5.0m
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital-€3.9m
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)9.6%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency52.7%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio0.22
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 70, Activities of head offices; management consultancy 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).
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€2.2m
Operating result€0.9m-€0.9m▼ 2.1%€1.0m▲ 11.4%€1.2m▲ 16.5%€1.3m▲ 10.5%€1.2m▼ 9.6%€4.3m▲ 277%€1.7m▼ 60.7%
Net result€0.1m-€0.4m▲ 169%€0.3mabove the sector's middle half▼ 11.9%€0.3mabove the sector's middle half▼ 3.5%€0.3mabove the sector's middle half▼ 7.3%€0.2mabove the sector's middle half▼ 33.4%€0.1mwithin the sector's middle half▼ 39.9%€1.0mabove the sector's middle half▲ 779%
EBIT margin77.4%
Equity€3.0m-€3.3m▲ 12.5%€3.7mabove the sector's middle half▲ 9.8%€4.0mabove the sector's middle half▲ 8.6%€4.3mabove the sector's middle half▲ 7.3%€4.5mabove the sector's middle half▲ 4.5%€4.6mabove the sector's middle half▲ 2.6%€5.6mabove the sector's middle half▲ 22.4%
Total assets€13.1m-€13.6m▲ 3.4%€14.0mabove the sector's middle half▲ 3.0%€14.4mabove the sector's middle half▲ 2.9%€14.8mabove the sector's middle half▲ 2.6%€15.1mabove the sector's middle half▲ 1.9%€9.8mabove the sector's middle half▼ 34.8%€10.6mwithin the sector's middle half▲ 8.2%
Debt€0.03m-€0.02m▼ 27.8%€0.02m▼ 21.6%€0.02m▲ 19.2%€0.02m▼ 4.3%€0.02m▼ 0.6%€5.2m▲ 259×€5.0m▼ 4.2%
Working capital€3.5m-€4.0m▲ 13.2%€4.3mabove the sector's middle half▲ 9.3%€4.8mabove the sector's middle half▲ 11.9%€5.2mabove the sector's middle half▲ 8.1%€5.5mabove the sector's middle half▲ 5.6%-€4.9mbelow the sector's middle half-€3.9mbelow the sector's middle half▲ 20.8%
Solvency22.6%-24.5%▲ 2.0pp26.2%within the sector's middle half▲ 1.6pp27.6%within the sector's middle half▲ 1.4pp28.9%within the sector's middle half▲ 1.3pp29.6%within the sector's middle half▲ 0.7pp46.6%within the sector's middle half▲ 17.0pp52.7%within the sector's middle half▲ 6.1pp
Current ratio0.06below the sector's middle half0.22below the sector's middle half▲ 0.16
Return on assets (ROA)1.0%-2.7%▲ 1.7pp2.3%within the sector's middle half▼ 0.4pp2.2%within the sector's middle half▼ 0.1pp2.0%within the sector's middle half▼ 0.2pp1.3%within the sector's middle half▼ 0.7pp1.2%within the sector's middle half▼ 0.1pp9.6%within the sector's middle half▲ 8.5pp
above
within
below
the middle half of NACE 70, Activities of head offices; management consultancy 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 +779% 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 €10.6m
Fixed assets
€9.5m =
Current assets
€1.1m ▲ 262%
Equity and liabilities €10.6m
Equity
€5.6m ▲ 22.4%
Debt
€5.0m ▼ 4.2%
Debt's share of the balance-sheet total falls from 53.4% to 47.3%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€1.7m▼
2024 · €4.4m
Cash flow
€1.0m▲
2024 · €127,740
Debt to equity
0.90▼
2024 · 1.15
ROE
18.3%▲
2024 · 2.5%
Interest coverage
4.86▲
2024 · 0.68
Debt ≤ 1 year
€5.0m▼
2024 · €5.2m
Income taxes
€335,376▲
2024 · €201,543
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 |
|---|---|---|---|---|---|---|---|---|---|
| Operating income70/76A | - | - | - | - | - | - | - | €2.2m | - |
| Turnover70 | - | - | - | - | - | - | - | €2.2m | - |
| Other operating income74 | - | - | - | - | - | - | - | €0.002m | - |
| Operating charges60/66A | - | - | - | - | - | - | - | €0.5m | - |
| Services and other goods61 | - | - | - | - | - | - | - | €0.5m | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | €0.009m | €0.01m | €0.01m | €0.01m | €0.01m | €0.002m | ▼ 83.3% |
| Other operating charges640/8 | - | - | - | €0.002m | €0.001m | €0.001m | €0.001m | €0.001m | ▲ 7.1% |
| Gross operating margin9900 | €0.9m | €0.9m | €1.0m | €1.2m | €1.3m | €1.2m | €4.4m | - | - |
| Operating profit (loss)9901 | €0.9m | €0.9m | €1.0m | €1.2m | €1.3m | €1.2m | €4.3m | €1.7m | ▼ 60.7% |
| Financial income75/76B | - | - | - | €0.1m | €0.1m | €0.1m | €2.3m | €0.008m | ▼ 99.7% |
| Recurring financial income75 | €0.05m | €0.3m | €0.2m | €0.1m | €0.1m | €0.1m | €2.3m | €0.008m | ▼ 99.7% |
| Income from current assets751 | - | - | - | - | - | - | - | €0.008m | - |
| Financial charges65/66B | - | - | - | €0.9m | €1.0m | €1.0m | €6.4m | €0.4m | ▼ 94.5% |
| Recurring financial charges65 | €0.8m | €0.8m | €0.8m | €0.9m | €1.0m | €1.0m | €6.4m | €0.4m | ▼ 94.5% |
| Debt charges650 | - | - | - | - | - | - | - | €0.4m | - |
| Other financial charges652/9 | - | - | - | - | - | - | - | €480 | - |
| Profit (loss) for the period before taxes9903 | €0.2m | €0.4m | €0.4m | €0.4m | €0.4m | €0.3m | €0.3m | €1.4m | ▲ 328% |
| Income taxes67/77 | €0.05m | €0.02m | €0.07m | €0.09m | €0.1m | €0.07m | €0.2m | €0.3m | ▲ 66.4% |
| Taxes670/3 | - | - | - | - | - | - | - | €0.3m | - |
| Tax adjustments and reversals of tax provisions77 | - | - | - | - | - | - | - | €0.005m | - |
| Profit (loss) for the period9904 | €0.1m | €0.4m | €0.3m | €0.3m | €0.3m | €0.2m | €0.1m | €1.0m | ▲ 779% |
| Profit (loss) for the period to be appropriated9905 | €0.1m | €0.4m | €0.3m | €0.3m | €0.3m | €0.2m | €0.1m | €1.0m | ▲ 779% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €13.1m | €13.6m | €14.0m | €14.4m | €14.8m | €15.1m | €9.8m | €10.6m | ▲ 8.2% |
| Fixed assets21/28 | €9.6m | €9.6m | €9.7m | €9.5m | €9.5m | €9.5m | €9.5m | €9.5m | = |
| Tangible fixed assets22/27 | - | - | €0.05m | €0.04m | €0.02m | €0.01m | €0.002m | - | - |
| Furniture and vehicles24 | - | - | - | €0.04m | €0.02m | €0.01m | €0.002m | - | - |
| Financial fixed assets28 | €9.6m | €9.6m | €9.6m | €9.5m | €9.5m | €9.5m | €9.5m | €9.5m | = |
| Affiliated companies280/1 | - | - | - | - | - | - | - | €9.5m | - |
| Participating interests280 | - | - | - | - | - | - | - | €9.5m | - |
| Current assets29/58 | €3.5m | €4.0m | €4.3m | €4.9m | €5.2m | €5.5m | €0.3m | €1.1m | ▲ 262% |
| Amounts receivable within one year40/41 | €0.2m | €0.03m | €0.3m | €0.1m | €0.2m | €0.1m | €0.07m | €0.06m | ▼ 15.3% |
| Trade receivables40 | - | - | - | - | €0.1m | €0.1m | - | - | - |
| Other amounts receivable41 | - | - | - | €0.1m | €0.1m | €0.03m | €0.07m | €0.06m | ▼ 15.3% |
| Current investments50/53 | €2.3m | €2.6m | €3.4m | €3.8m | €3.8m | €4.3m | €0 | - | - |
| Cash at bank and in hand54/58 | €1.0m | €1.3m | €0.6m | €0.9m | €1.2m | €1.1m | €0.2m | €1.1m | ▲ 343% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €13.1m | €13.6m | €14.0m | €14.4m | €14.8m | €15.1m | €9.8m | €10.6m | ▲ 8.2% |
| Equity10/15 | €3.0m | €3.3m | €3.7m | €4.0m | €4.3m | €4.5m | €4.6m | €5.6m | ▲ 22.4% |
| Contributions10/11 | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Capital10 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Issued capital100 | - | - | - | €0.06m | €0.06m | €0.06m | €0.06m | €0.06m | = |
| Reserves13 | €2.5m | €2.5m | €3.5m | €3.5m | €3.5m | €3.5m | €3.5m | €3.5m | = |
| Non-distributable reserves130/1 | - | - | - | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Legal reserve130 | - | - | - | €0.006m | €0.006m | €0.006m | €0.006m | €0.006m | = |
| Tax-exempt reserves132 | - | - | - | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | = |
| Distributable reserves133 | - | - | - | €3.5m | €3.5m | €3.5m | €3.5m | €3.5m | = |
| Profit (loss) carried forward14 | €0.4m | €0.7m | €0.07m | €0.4m | €0.7m | €0.9m | €1.0m | €2.0m | ▲ 103% |
| Provisions and deferred taxes16 | €10.1m | €10.2m | €10.3m | €10.4m | €10.5m | €10.6m | - | - | - |
| Provisions for liabilities and charges160/5 | - | - | - | €10.4m | €10.5m | €10.6m | - | - | - |
| Other liabilities and charges164/5 | - | - | - | €10.4m | €10.5m | €10.6m | - | - | - |
| Amounts payable17/49 | €0.03m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €5.2m | €5.0m | ▼ 4.2% |
| Amounts payable within one year42/48 | €0.03m | €0.02m | €0.02m | €0.02m | €0.02m | €0.02m | €5.2m | €5.0m | ▼ 4.2% |
| Financial debts43 | - | - | - | - | - | - | €5.0m | €5.0m | = |
| Other loans439 | - | - | - | - | - | - | €5.0m | €5.0m | = |
| Trade debts44 | €0.02m | €0.02m | - | €458 | - | €0.001m | €0.07m | - | - |
| Suppliers440/4 | - | - | - | €458 | - | €0.001m | €0.07m | - | - |
| Taxes, remuneration and social security45 | - | - | - | €0.02m | €0.02m | €0.02m | €0.2m | €0.02m | ▼ 89.0% |
| Taxes450/3 | - | - | - | €0.02m | €0.02m | €0.02m | €0.2m | €0.02m | ▼ 89.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.1m | €0.4m | €0.3m | €0.3m | €0.3m | €0.2m | €0.1m | €1.0m | ▲ 779% |
| + Depreciation and write-downs630 | - | - | €0.009m | €0.01m | €0.01m | €0.01m | €0.01m | €0.002m | ▼ 83.3% |
| Operating cash flow (approximation) | €0.1m | €0.4m | €0.3m | €0.3m | €0.3m | €0.2m | €0.1m | €1.0m | ▲ 704% |
| Investment in fixed assets (approximation) | - | €0 | -€0.06m | €0.1m | €0 | €0 | €0 | €0 | - |
| Change in cash | - | €0.3m | -€0.7m | €0.3m | €0.3m | -€0.09m | -€0.9m | €0.8m | - |
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 35 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 31-12-2025 | full format | 09-06-2026 | 2026-00145971 |
| 31-12-2024 | abbreviated format | 02-07-2025 | 2025-00225724 |
| 31-12-2023 | abbreviated format | 19-07-2024 | 2024-00261366 |
| 31-12-2022 | abbreviated format | 04-07-2023 | 2023-00206031 |
| 31-12-2021 | abbreviated format | 01-07-2022 | 2022-20117884 |
| 31-12-2020 | abbreviated format | 25-06-2021 | 2021-23900534 |
| 31-12-2019 | abbreviated format | 15-07-2020 | 2020-29800155 |
| 31-12-2018 | abbreviated format | 07-06-2019 | 2019-16400593 |
| 31-12-2017 | abbreviated format | 22-06-2018 | 2018-21000267 |
| 31-12-2016 | abbreviated format | 11-07-2017 | 2017-29200286 |
Similar companies · same sector, comparable size
RADEM
BE 0477.928.106
Gent · equity €5,595,141
ZAKOUSKI
BE 0460.593.513
Aartselaar · equity €5,609,123
VICTOR
BE 0896.106.883
Gingelom · equity €5,610,792
Lansekyn
BE 0465.701.255
Jodoigne · equity €5,612,731
FROMONT & PARTNERS
BE 0825.854.139
Ukkel · equity €5,617,307
Of the 82,448 active companies whose main activity is business and other management consultancy (NACE 70200), figures are known for 54,254. 10,498 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.