VALUE FOR TECHNOLOGY
Annual accounts 2025
micro format, filed on 28-11-2025, 28 days lateTurnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Turnover ≈ €76,000. Estimated: probably between €46,000 and €100,000.
Balance sheet
balance sheet total €55,746 on 31-03-2025in euro
in euro
Position in the sector
-9.0%
Higher than 8% of 39,364 companies in 2025.
0.63
Higher than 14% of 38,048 companies in 2025.
30.2%
Higher than 71% of 38,520 companies in 2025.
Net result: middle half · Equity: bottom quarter · Balance sheet total: bottom quarter · Working capital: bottom quarter
Filed annual accounts
as filed with the National Bank, click a year to choose it| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | ||||||||||||||||||||
20/58 |
55,746 | 70,310 | 50,595 | 18,123 | 15,878 | 22,646 | 34,943 | 41,188 | 4,396 | 31,907 | 22,278 | 79,329 | 85,855 | 25,991 | 31,566 | 52,735 | 105,004 | 67,175 | 64,174 | |
21/28 |
17,776 | 17,193 | 22,413 | 2,091 | 6,713 | 9,953 | 14,835 | 19,289 | 2,955 | 9,872 | 10,915 | 16,063 | 21,363 | 6,623 | 8,939 | 7,346 | 8,137 | 15,597 | 26,793 | |
21 |
- | - | - | - | - | - | - | - | 2,036 | 4,071 | 63 | 125 | 188 | 251 | - | - | - | - | - | |
22/27 |
17,776 | 17,193 | 22,413 | 2,091 | 6,713 | 9,953 | 14,835 | 19,289 | 919 | 5,801 | 10,776 | 15,861 | 21,099 | 6,296 | 8,863 | 7,270 | 8,061 | 15,521 | 26,717 | |
23 |
2,230 | 1,626 | 1,859 | 2,091 | - | - | - | - | - | - | - | 110 | 220 | 330 | 440 | 550 | 659 | 769 | 879 | |
24 |
10,578 | 15,566 | 20,554 | - | 6,713 | 9,953 | 14,773 | 19,165 | 596 | 5,279 | 10,054 | 14,830 | 19,759 | 3,396 | 4,404 | 1,871 | 1,164 | 8,253 | 18,040 | |
26 |
4,967 | - | - | - | - | - | 62 | 124 | 323 | 522 | 722 | 921 | 1,120 | 2,570 | 4,020 | 4,849 | 6,237 | 6,498 | 7,798 | |
28 |
- | - | - | - | - | - | - | - | - | - | 76 | 76 | 76 | 76 | 76 | 76 | 76 | 76 | 76 | |
29/58 |
37,970 | 53,118 | 28,182 | 16,032 | 9,166 | 12,693 | 20,107 | 21,899 | 1,441 | 22,035 | 11,363 | 63,266 | 64,492 | 19,368 | 22,627 | 45,389 | 96,867 | 51,578 | 37,381 | |
40/41 |
6,027 | 17,226 | 12,769 | 9,270 | 3,200 | 6,190 | 11,629 | 2,451 | 1,361 | 1,126 | 2,190 | 11,172 | 4,097 | 13,831 | 13,851 | 32,610 | 45,786 | 50,412 | 11,017 | |
40 |
5,313 | 15,800 | 12,160 | 8,960 | 3,200 | 6,181 | 11,629 | - | - | - | 1,100 | 8,360 | - | 13,831 | 11,693 | 30,787 | 29,707 | 50,412 | 9,212 | |
41 |
715 | 1,426 | 609 | 310 | - | 9 | - | 2,451 | 1,361 | 1,126 | 1,090 | 2,812 | 4,097 | - | 2,158 | 1,823 | 16,079 | - | 1,805 | |
54/58 |
31,943 | 35,892 | 15,338 | 6,687 | 5,891 | 6,328 | 8,203 | 19,072 | 80 | 20,909 | 9,173 | 43,755 | 59,781 | 4,574 | 7,796 | 11,847 | 50,200 | 145 | 25,326 | |
490/1 |
- | 0 | 75 | 75 | 75 | 175 | 275 | 375 | - | - | - | 8,340 | 614 | 963 | 980 | 932 | 880 | 1,021 | 1,038 | |
| Balance sheet: equity and liabilities | ||||||||||||||||||||
10/49 |
55,746 | 70,310 | 50,595 | 18,123 | 15,878 | 22,646 | 34,943 | 41,188 | 4,396 | 31,907 | 22,278 | 79,329 | 85,855 | 25,991 | 31,566 | 52,735 | 105,004 | 67,175 | 64,174 | |
10/15 |
-5,025 | -21,863 | -68,825 | -103,909 | -139,290 | -135,996 | -116,511 | -124,994 | -108,912 | -40,127 | -37,185 | 12,714 | 14,407 | -20,800 | 1,816 | 17,876 | 36,904 | 13,161 | -4,052 | |
10/11 |
6,200 | 6,200 | 6,200 | 6,200 | 6,200 | - | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | 6,200 | |
100 |
- | - | - | - | - | - | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | 18,600 | |
101 |
- | - | - | - | - | - | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | 12,400 | |
11 |
- | - | - | - | - | 6,200 | - | - | - | - | - | - | - | - | - | - | - | - | - | |
1100/10 |
- | - | - | - | - | 6,200 | - | - | - | - | - | - | - | - | - | - | - | - | - | |
13 |
1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,535 | 1,535 | 1,535 | 1,535 | 348 | - | |
130/1 |
1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | - | - | - | - | - | - | - | - | - | - | - | - | - | |
130 |
- | - | - | - | - | - | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,535 | 1,535 | 1,535 | 1,535 | 348 | - | |
1311 |
1,860 | 1,860 | 1,860 | 1,860 | 1,860 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
1319 |
- | - | - | - | - | 1,860 | - | - | - | - | - | - | - | - | - | - | - | - | - | |
14 |
-13,085 | -29,923 | -76,885 | -111,969 | -147,350 | -144,056 | -124,571 | -133,054 | -116,972 | -48,187 | -45,245 | 4,654 | 6,347 | -28,536 | -5,919 | 10,141 | 29,168 | 6,613 | -10,252 | |
17/49 |
60,771 | 92,173 | 119,420 | 122,032 | 155,168 | 158,641 | 151,453 | 166,182 | 113,308 | 72,034 | 59,463 | 66,615 | 71,448 | 46,791 | 29,750 | 34,859 | 68,100 | 54,014 | 68,226 | |
17 |
- | - | - | - | - | 5,000 | 11,000 | 16,500 | - | - | - | - | - | - | - | - | - | 5,073 | 13,509 | |
170/4 |
- | - | - | - | - | 5,000 | 11,000 | 16,500 | - | - | - | - | - | - | - | - | - | 5,073 | 13,509 | |
42/48 |
60,334 | 91,736 | 118,983 | 121,594 | 154,731 | 153,641 | 136,953 | 146,619 | 111,121 | 71,159 | 59,463 | 66,615 | 71,448 | 45,591 | 28,770 | 33,759 | 48,550 | 48,091 | 53,682 | |
42 |
- | - | - | - | 4,500 | 6,500 | 6,000 | 7,500 | - | - | - | - | - | - | - | - | 21,791 | 8,435 | 8,117 | |
43 |
- | - | - | - | - | - | - | - | 2,283 | - | - | - | - | - | - | - | - | - | - | |
430/8 |
- | - | - | - | - | - | - | - | 2,283 | - | - | - | - | - | - | - | - | - | - | |
44 |
1,924 | 4,928 | 550 | 1,932 | 1,507 | 1,273 | 4,633 | 10,138 | 3,792 | 1,413 | 785 | 8,122 | 788 | 3,860 | 2,826 | 15,395 | 10,621 | 4,155 | 601 | |
440/4 |
1,924 | 4,928 | 550 | 1,932 | 1,507 | 1,273 | 4,633 | 10,138 | 3,792 | 1,413 | 785 | 8,122 | 788 | 3,860 | 2,826 | 15,395 | 10,621 | 4,155 | 601 | |
46 |
- | - | - | - | - | - | - | - | - | - | - | - | - | 2,095 | - | - | - | - | 9,517 | |
45 |
2,405 | 142 | 135 | 203 | 1,094 | 3,009 | 27,695 | 18,052 | 8,985 | 4,032 | 3,457 | 2,654 | 3,246 | 7,946 | 4,973 | 3,138 | 2,975 | 10,462 | 305 | |
450/3 |
2,405 | 142 | 135 | 203 | 1,094 | 484 | 5,820 | 102 | 10 | 107 | 932 | 129 | 721 | 5,421 | 774 | 339 | 176 | 7,663 | 305 | |
454/9 |
- | - | - | - | - | 2,525 | 21,875 | 17,950 | 8,975 | 3,925 | 2,525 | 2,525 | 2,525 | 2,525 | 4,199 | 2,799 | 2,799 | 2,799 | - | |
47/48 |
56,005 | 86,666 | 118,297 | 119,460 | 147,630 | 142,859 | 98,625 | 110,929 | 96,061 | 65,715 | 55,220 | 55,838 | 67,413 | 31,691 | 20,971 | 15,227 | 13,162 | 25,039 | 35,142 | |
492/3 |
438 | 438 | 438 | 438 | 438 | - | 3,500 | 3,063 | 2,188 | 875 | - | - | - | 1,200 | 980 | 1,100 | 19,550 | 850 | 1,035 | |
| Income statement | ||||||||||||||||||||
76A |
- | - | - | - | - | - | - | - | - | - | - | - | - | 2,479 | - | - | - | - | - | |
9900 |
26,226 | 58,392 | 40,944 | 37,530 | 6,561 | -12,485 | 15,167 | -6,552 | -59,803 | 6,409 | -55,686 | -92,753 | -46,636 | -18,921 | -6,815 | -13,812 | 46,959 | 38,041 | 10,151 | |
630 |
5,743 | 5,220 | 4,618 | 378 | 5,410 | 5,319 | 5,249 | 7,157 | 6,918 | 7,073 | 5,148 | 5,301 | 7,555 | 3,096 | 3,522 | 2,308 | 10,206 | 11,196 | 11,196 | |
631/4 |
0 | -2,981 | - | - | 2,981 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
640/8 |
776 | 8,555 | 884 | 742 | 1,019 | 1,023 | 819 | 987 | 822 | 744 | 725 | 757 | 1,289 | 938 | 3,525 | 1,469 | 1,534 | 1,590 | 1,470 | |
66A |
- | - | - | 629 | - | - | - | - | - | - | - | - | - | - | 823 | - | 372 | - | - | |
9901 |
19,707 | 47,597 | 35,442 | 35,781 | -2,849 | -18,828 | 9,099 | -14,696 | -67,543 | -1,408 | -61,559 | -98,811 | -55,481 | -22,955 | -13,862 | -17,589 | 35,219 | 25,254 | -2,515 | |
75/76B |
- | 0 | 11 | 1 | 1 | - | - | 0 | 0 | 0 | 12,977 | 98,521 | 92,501 | 2 | 13 | 44 | 199 | 43 | 22 | |
75 |
- | 0 | 11 | 1 | 1 | - | - | 0 | 0 | 0 | 12,977 | 98,521 | 92,501 | 2 | 13 | 44 | 199 | 43 | 22 | |
65/66B |
606 | 493 | 234 | 198 | 214 | 423 | 386 | 1,305 | 1,349 | 1,427 | 1,211 | 1,275 | 1,813 | 2,145 | 1,392 | 1,526 | 724 | 716 | 1,186 | |
65 |
606 | 493 | 234 | 198 | 214 | 423 | 386 | 1,305 | 1,349 | 1,427 | 1,211 | 1,275 | 1,813 | 2,145 | 1,392 | 1,526 | 724 | 716 | 1,186 | |
9903 |
19,101 | 47,104 | 35,219 | 35,584 | -3,062 | -19,250 | 8,713 | -16,000 | -68,892 | -2,836 | -49,793 | -1,564 | 35,207 | -22,618 | -16,064 | -19,071 | 34,322 | 24,581 | -3,679 | |
67/77 |
2,263 | 142 | 135 | 203 | 232 | 235 | 230 | 82 | -107 | 107 | 106 | 129 | - | -2 | -5 | -44 | 10,580 | 7,368 | -462 | |
9904 |
16,838 | 46,962 | 35,084 | 35,381 | -3,294 | -19,485 | 8,484 | -16,082 | -68,785 | -2,942 | -49,899 | -1,693 | 35,207 | -22,617 | -16,060 | -19,028 | 23,742 | 17,213 | -3,217 | |
9905 |
16,838 | 46,962 | 35,084 | 35,381 | -3,294 | -19,485 | 8,484 | -16,082 | -68,785 | -2,942 | -49,899 | -1,693 | 35,207 | -22,617 | -16,060 | -19,028 | 23,742 | 17,213 | -3,217 | |
| Appropriation of the result | ||||||||||||||||||||
9906 |
-13,085 | -29,923 | -76,885 | -111,969 | -147,350 | -144,056 | -124,571 | -133,054 | -116,972 | -48,187 | -45,245 | 4,654 | 6,672 | -28,536 | -5,919 | 10,141 | 30,356 | 6,961 | -10,252 | |
14P |
-29,923 | -76,885 | -111,969 | -147,350 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | |
691/2 |
- | - | - | - | - | - | - | - | - | - | - | - | 325 | - | - | - | 1,187 | 348 | - | |
6920 |
- | - | - | - | - | - | - | - | - | - | - | - | 325 | - | - | - | 1,187 | 348 | - | |
| Document | ||||||||||||||||||||
The accounts for 3 older financial years (2004-2006) were filed as documents without figures as data, scans for example.
The notes to these accounts have 12 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 28-11-2025.
Filings
each dot is a set of accounts, on the day it reached the National Bank2025 annual accounts filed 28 days after the deadline. Filed on 28 November 2025, deadline 31 October 2025 (7 months after the close on 31 March 2025, Companies Code art. 3:10). Source: NBB, 2025-00572108.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-03-2025 | micro format | 28-11-2025 | 2025-00572108 | |
| 31-03-2024 | micro format | 29-10-2024 | 2024-00517857 | |
| 31-03-2023 | micro format | 31-10-2023 | 2023-00499008 | |
| 31-03-2022 | micro format | 02-11-2022 | 2022-20481307 | |
| 31-03-2021 | micro format | 05-11-2021 | 2021-76600131 | |
| 31-03-2020 | micro format | 02-11-2020 | 2020-67200036 | |
| 31-03-2019 | micro format | 11-10-2019 | 2019-70000026 | |
| 31-03-2018 | micro format | 02-10-2018 | 2018-68100252 | |
| 31-03-2017 | micro format | 29-09-2017 | 2017-64800292 | |
| 31-03-2016 | abbreviated format | 30-09-2016 | 2016-63900506 | |
| 31-03-2015 | abbreviated format | 28-09-2015 | 2015-61400233 | |
| 31-03-2014 | abbreviated format | 24-10-2014 | 2014-65500403 | |
| 31-03-2013 | abbreviated format | 30-11-2013 | 2013-67400579 | |
| 31-03-2012 | abbreviated format | 25-10-2012 | 2012-61800375 | |
| 31-03-2011 | abbreviated format | 07-11-2011 | 2011-60100253 | |
| 31-03-2010 | abbreviated format | 25-10-2010 | 2010-58900252 | |
| 31-03-2009 | abbreviated format | 26-10-2009 | 2009-82400246 | |
| 31-03-2008 | abbreviated format | 29-09-2008 | 2008-75700310 | |
| 31-03-2007 | abbreviated format | 04-10-2007 | 2007-76700183 | |
| 31-03-2006 | abbreviated format | 10-10-2006 | 2006-83503939 | |
| 31-03-2005 | abbreviated format | 25-10-2005 | 2005-83403500 | |
| 31-03-2004 | abbreviated format | 28-01-2005 | 2005-02800079 |
Key figures and ratios
per financial year, computed from the annual accounts| Line | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 25,450 | 52,817 | 40,060 | 36,158 | 2,561 | -13,508 | 14,348 | -7,539 | -60,625 | 5,665 | -56,411 | -93,510 | -47,926 | -19,859 | -10,340 | -15,281 | 45,425 | 36,450 | 8,681 | ||
| 22,581 | 52,182 | 39,702 | 35,759 | 2,116 | -14,166 | 13,733 | -8,925 | -61,868 | 4,131 | -44,751 | 3,607 | 42,762 | -19,521 | -12,538 | -16,720 | 33,949 | 28,409 | 7,979 | ||
| 6,326 | 0 | 24,940 | 2,323 | 2,170 | 436 | 796 | 23,491 | 0 | 6,107 | 0 | 0 | 22,295 | 779 | 5,115 | 1,517 | 3,118 | 0 | - | ||
| -3,948 | 20,554 | 8,650 | 797 | -437 | -1,875 | -10,869 | 18,993 | -20,829 | 11,736 | -34,582 | -16,026 | 55,207 | -3,221 | -4,052 | -38,353 | 50,055 | -25,181 | - | ||
| -22,363 | -38,618 | -90,801 | -105,562 | -145,565 | -140,948 | -116,846 | -124,721 | -109,679 | -49,124 | -48,100 | -3,349 | -6,956 | -26,223 | -6,143 | 11,630 | 48,316 | 3,487 | -16,302 | ||
| -9.0% | -31.1% | -136.0% | -573.4% | -877.2% | -600.5% | -333.4% | -303.5% | - | -125.8% | -166.9% | 16.0% | 16.8% | -80.0% | 5.8% | 33.9% | 35.1% | 19.6% | -6.3% | ||
| 0.63 | 0.58 | 0.24 | 0.13 | 0.06 | 0.08 | 0.15 | 0.15 | - | 0.31 | 0.19 | 0.95 | 0.90 | 0.42 | 0.79 | 1.34 | 2.00 | 1.07 | 0.70 | ||
| - | - | - | - | - | - | - | - | - | - | - | 5.24 | 4.96 | - | 16.38 | 1.95 | 1.85 | 4.10 | - | ||
| - | - | - | - | - | - | - | - | - | - | - | -13.3% | 244.4% | - | -884.2% | -106.4% | 64.3% | 130.8% | - | ||
| 30.2% | 66.8% | 69.3% | 195.2% | -20.7% | -86.0% | 24.3% | -39.0% | - | -9.2% | -224.0% | -2.1% | 41.0% | -87.0% | -50.9% | -36.1% | 22.6% | 25.6% | -5.0% | ||
| 42.00 | over 100 | over 100 | over 100 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
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| Item | 31-03-2025 | 31-03-2024 | 31-03-2023 | 31-03-2022 |
|---|---|---|---|---|
| Tangible fixed assets | €6,326 | - | €24,940 | €2,323 |
| €5,743 | €5,220 | €4,618 | €378 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Insights on VALUE FOR TECHNOLOGY
The operating result for 2025 is 59% lower than in 2024 and the lowest since 2021.
Equity is negative. Debt (€60,771) exceeds the balance-sheet total (€55,746).