VERTAS
ActiveFinancials · financial year 2025, micro format
2025 annual accounts filed 2 days after the deadline Filed on 2 April 2026, deadline 31 March 2026 (7 months after the close on 31 August 2025, Companies Code art. 3:10). Source: NBB, 2026-00071051.
Annual accounts 2025 filed on 02-04-2026 PDF all 22 filings
Turnover
≈ €30,000
Estimated: probably between €14,000 and €61,000
Total assets
€215,682▲ 3.6%
2024 · €208,186
Net result
€6,454
2024 · -€72,779
Working capital
€54,742▲ 13.4%
2024 · €48,287
Trend over the years
2021 to 2025, 5 financial years 2019 to 2025, 7 financial years
The operating result for 2025 is a profit of €6,514, after a loss of €72,651 in 2024.
Operating result€6,514
2025
Net result€6,454
2025
Total assets€215,682
2025
Equity€134,771
2025
Debt€80,911
2025
Working capital€54,742
2025
Return on assets (ROA)3.0%
2025
Solvency62.5%
2025
Current ratio2.44
2025
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
The EBIT margin is the share of each euro of turnover left from operations. The return on assets is what the assets earn.
The higher the solvency, the better the company absorbs a setback.
A ratio above 1 means the short-term assets cover the short-term debts.
Use the arrow keys on the chart for the figures per year.
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 dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio and return on assets (ROA).
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€15,787-€38,568▲ 144%€54,908▲ 42.4%€7,627▼ 86.1%-€12,096-€72,651▼ 501%€6,514
Net result€10,677-€30,205within the sector's middle half▲ 183%€40,941within the sector's middle half▲ 35.5%-€4,749below the sector's middle half-€6,614below the sector's middle half▼ 39.3%-€72,779below the sector's middle half▼ 1,000%€6,454within the sector's middle half
Equity€66,312-€96,517within the sector's middle half▲ 45.6%€137,458within the sector's middle half▲ 42.4%€132,709within the sector's middle half▼ 3.5%€201,095within the sector's middle half▲ 51.5%€128,316within the sector's middle half▼ 36.2%€134,771within the sector's middle half▲ 5.0%
Total assets€162,343-€254,370within the sector's middle half▲ 56.7%€325,605within the sector's middle half▲ 28.0%€335,675within the sector's middle half▲ 3.1%€284,251within the sector's middle half▼ 15.3%€208,186within the sector's middle half▼ 26.8%€215,682within the sector's middle half▲ 3.6%
Debt€96,032-€157,853▲ 64.4%€188,148▲ 19.2%€202,966▲ 7.9%€83,156▼ 59.0%€79,870▼ 4.0%€80,911▲ 1.3%
Working capital€27,248-€100,869within the sector's middle half▲ 270%€170,218above the sector's middle half▲ 68.8%€174,709above the sector's middle half▲ 2.6%€121,066within the sector's middle half▼ 30.7%€48,287within the sector's middle half▼ 60.1%€54,742within the sector's middle half▲ 13.4%
Solvency40.8%-37.9%within the sector's middle half▼ 2.9pp42.2%within the sector's middle half▲ 4.3pp39.5%within the sector's middle half▼ 2.7pp70.7%within the sector's middle half▲ 31.2pp61.6%within the sector's middle half▼ 9.1pp62.5%within the sector's middle half▲ 0.9pp
Current ratio2.11-3.37within the sector's middle half▲ 1.254.70above the sector's middle half▲ 1.345.60above the sector's middle half▲ 0.904.01within the sector's middle half▼ 1.592.31within the sector's middle half▼ 1.702.44within the sector's middle half▲ 0.13
Return on assets (ROA)6.6%-11.9%within the sector's middle half▲ 5.3pp12.6%within the sector's middle half▲ 0.7pp-1.4%below the sector's middle half▼ 14.0pp-2.3%below the sector's middle half▼ 0.9pp-35.0%below the sector's middle half▼ 32.6pp3.0%within the sector's middle half▲ 38.0pp
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.
Turnover and EBIT margin are not published. The micro 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 €215,682
Fixed assets
€123,000 =
Current assets
€92,682 ▲ 8.8%
Equity and liabilities €215,682
Equity
€134,771 ▲ 5.0%
Debt
€80,911 ▲ 1.3%
Debt's share of the balance-sheet total falls from 38.4% to 37.5%. Equity and debt are higher.
Key figures and ratios
Debt to equity
0.60▼
2024 · 0.62
ROE
4.8%▲
2024 · -56.7%
Debt ≤ 1 year
€37,940▲
2024 · €36,899
Debt > 1 year
€42,971=
2024 · €42,971
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Comparable companies
These companies have the same main activity as VERTAS: business and other management consultancy (NACE 70200). They are comparable in size and age: total assets between €192,000 and €219,000, founded between 2001 and 2004.
| Company | Founded | Total assets | Equity | Gross margin | Net result | Financial year |
|---|---|---|---|---|---|---|
| VERTAS Haacht | 2002 | €215,682 | €134,771 | €6,514 | €6,454 | 2025 |
| ELDO CONSULT Opwijk | 2003 | €209,221 | €153,637 | €5,989 | €1,396 | 2024 |
| MENS Ieper | 2001 | €206,744 | €191,253 | €5,952 | -€2,439 | 2025 |
| KIEF Kapellen | 2003 | €218,581 | €163,292 | €7,333 | -€750 | 2025 |
| MULTI-CONSULTING Namur | 2001 | €213,326 | €83,915 | €7,561 | -€14,031 | 2025 |
| LIVECO Puurs-Sint-Amands | 2001 | €196,075 | €4,849 | €5,672 | -€97,090 | 2025 |
| KI-VENTI Kuurne | 2004 | €192,342 | €147,857 | €6,636 | €755 | 2025 |
They were chosen from the 54,697 other active companies with that main activity and annual accounts from the past two years. All companies with this main activity
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €745 | €912 | €1,423 | €400 | - | - | - | - |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €35,022 | €83,572 | - | - |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | - | €29 | - | - | - |
| Other operating charges640/8 | - | - | - | €248 | €1,298 | €636 | - | - |
| Gross operating margin9900 | €16,531 | €40,227 | €56,472 | €8,275 | €24,254 | €11,556 | €6,514 | ▼ 43.6% |
| Operating profit (loss)9901 | €15,787 | €38,568 | €54,908 | €7,627 | -€12,096 | -€72,651 | €6,514 | - |
| Financial income75/76B | - | - | - | - | €4,800 | - | - | - |
| Recurring financial income75 | - | €1 | €0 | - | €4,800 | - | - | - |
| Non-recurring financial income76B | - | - | - | - | €4,800 | - | - | - |
| Financial charges65/66B | - | - | - | €5,462 | €325 | €127 | €59 | ▼ 53.5% |
| Recurring financial charges65 | €628 | €297 | €233 | €433 | €325 | €127 | €59 | ▼ 53.5% |
| Non-recurring financial charges66B | - | - | - | €5,029 | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €13,758 | €38,273 | €54,675 | €2,165 | -€7,621 | -€72,779 | €6,454 | - |
| Income taxes67/77 | €3,081 | €8,067 | €13,734 | €6,914 | -€1,007 | - | - | - |
| Profit (loss) for the period9904 | €10,677 | €30,205 | €40,941 | -€4,749 | -€6,614 | -€72,779 | €6,454 | - |
| Profit (loss) for the period to be appropriated9905 | €10,677 | €30,205 | €40,941 | -€4,749 | -€6,614 | -€72,779 | €6,454 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €162,343 | €254,370 | €325,605 | €335,675 | €284,251 | €208,186 | €215,682 | ▲ 3.6% |
| Fixed assets21/28 | €110,564 | €110,853 | €109,429 | €123,000 | €123,000 | €123,000 | €123,000 | = |
| Tangible fixed assets22/27 | €6,564 | €6,853 | €5,429 | - | - | - | - | - |
| Financial fixed assets28 | €104,000 | €104,000 | €104,000 | €123,000 | €123,000 | €123,000 | €123,000 | = |
| Current assets29/58 | €51,779 | €143,518 | €216,176 | €212,675 | €161,251 | €85,186 | €92,682 | ▲ 8.8% |
| Amounts receivable after more than one year29 | - | - | - | €108,029 | €105,064 | - | - | - |
| Other amounts receivable291 | - | - | - | €108,029 | €105,064 | - | - | - |
| Amounts receivable within one year40/41 | €23,620 | €91,293 | €137,000 | €62,272 | €55,886 | €66,181 | €91,676 | ▲ 38.5% |
| Trade receivables40 | - | - | - | €49,210 | €4,800 | €19,473 | €33,776 | ▲ 73.5% |
| Other amounts receivable41 | - | - | - | €13,062 | €51,086 | €46,708 | €57,900 | ▲ 24.0% |
| Cash at bank and in hand54/58 | €3,160 | €1,224 | €1,676 | €155 | €300 | €19,006 | €1,006 | ▼ 94.7% |
| Deferred charges and accrued income490/1 | - | - | - | €42,219 | - | - | - | - |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €162,343 | €254,370 | €325,605 | €335,675 | €284,251 | €208,186 | €215,682 | ▲ 3.6% |
| Equity10/15 | €66,312 | €96,517 | €137,458 | €132,709 | €201,095 | €128,316 | €134,771 | ▲ 5.0% |
| Contributions10/11 | €18,600 | €18,600 | €18,600 | €18,600 | €93,600 | €93,600 | €93,600 | = |
| Reserves13 | €41,860 | €71,860 | €116,860 | €116,860 | €116,860 | €116,860 | €116,860 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | - | - | - | €115,000 | €115,000 | €115,000 | €115,000 | = |
| Profit (loss) carried forward14 | €5,852 | €6,057 | €1,998 | -€2,751 | -€9,365 | -€82,144 | -€75,689 | ▲ 7.9% |
| Amounts payable17/49 | €96,032 | €157,853 | €188,148 | €202,966 | €83,156 | €79,870 | €80,911 | ▲ 1.3% |
| Amounts payable after more than one year17 | €46,500 | €97,500 | €124,600 | €123,000 | €42,971 | €42,971 | €42,971 | = |
| Financial debts170/4 | - | - | - | €123,000 | €42,971 | €42,971 | €42,971 | = |
| Amounts payable within one year42/48 | €24,532 | €42,649 | €45,958 | €37,966 | €40,185 | €36,899 | €37,940 | ▲ 2.8% |
| Financial debts43 | - | - | - | €5,035 | - | - | - | - |
| Credit institutions430/8 | - | - | - | €5,035 | - | - | - | - |
| Trade debts44 | €11,901 | €10,271 | €13,668 | €1,172 | €4,117 | €727 | - | - |
| Suppliers440/4 | - | - | - | €1,172 | €4,117 | €727 | - | - |
| Other amounts payable47/48 | - | - | - | €31,759 | €36,068 | €36,172 | €37,940 | ▲ 4.9% |
| Accrued charges and deferred income492/3 | - | - | - | €42,000 | - | - | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €10,677 | €30,205 | €40,941 | -€4,749 | -€6,614 | -€72,779 | €6,454 | - |
| + Depreciation and write-downs630 | €745 | €912 | €1,423 | €400 | - | - | - | - |
| Operating cash flow (approximation) | €11,422 | €31,117 | €42,364 | -€4,349 | -€6,614 | -€72,779 | €6,454 | - |
| Investment in fixed assets (approximation) | - | -€1,200 | €0 | -€13,971 | €0 | €0 | €0 | - |
| Change in cash | - | -€1,935 | €452 | -€1,521 | €145 | €18,705 | -€18,000 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Latest 10 of 22 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-08-2025 | micro format | 02-04-2026 | 2026-00071051 | |
| 31-08-2024 | micro format | 02-04-2025 | 2025-00061346 | |
| 31-08-2023 | micro format | 26-03-2024 | 2024-00053500 | |
| 31-08-2022 | micro format | 30-03-2023 | 2023-00051725 | |
| 31-08-2021 | micro format | 20-01-2022 | 2022-01200407 | |
| 31-08-2020 | micro format | 12-02-2021 | 2021-05200471 | |
| 31-08-2019 | micro format | 31-03-2020 | 2020-07900198 | |
| 31-08-2018 | micro format | 22-03-2019 | 2019-07500377 | |
| 31-08-2017 | abbreviated format | 31-03-2018 | 2018-08600317 | |
| 31-08-2016 | abbreviated format | 13-02-2017 | 2017-04400032 |