VILAFRA
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 30-06-2026 at the NBB all 3 filings
Turnover
≈ €410,000
Estimated: probably between €340,000 and €480,000
Total assets
€631,142▲ 76.7%
2024 · €357,164
Net result
€169,643▼ 3.1%
2024 · €174,988
Working capital
-€91,961
2024 · €254,176
Multi-year overview
2023 to 2025, 3 financial yearsOperating result
€233,112
▲ 1.4%
2025
20232025
Net result
€169,643
▼ 3.1%
2025
highest quarter of the sector
20232025
Equity
€429,246
▲ 65.3%
2025
highest quarter of the sector
20232025
Total assets
€631,142
▲ 76.7%
2025
highest quarter of the sector
20232025
Debt
€201,896
▲ 107%
2025
20232025
Working capital
-€91,961
2025
lowest quarter of the sector
20232025
Solvency
68.0%
▼ 4.7pp
2025
middle half of the sector
20232025
Current ratio
0.54
▼ 3.06
2025
lowest quarter of the sector
20232025
Return on assets (ROA)
26.9%
▼ 22.1pp
2025
middle half of the sector
20232025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line202320242025
Operating result€106,003-€229,976▲ 117%€233,112▲ 1.4%
Net result€84,933above the sector's middle half-€174,988above the sector's middle half▲ 106%€169,643above the sector's middle half▼ 3.1%
Equity€86,333within the sector's middle half-€259,603above the sector's middle half▲ 201%€429,246above the sector's middle half▲ 65.3%
Total assets€125,937within the sector's middle half-€357,164within the sector's middle half▲ 184%€631,142above the sector's middle half▲ 76.7%
Debt€39,604-€97,561▲ 146%€201,896▲ 107%
Working capital€54,599within the sector's middle half-€254,176above the sector's middle half▲ 366%-€91,961below the sector's middle half
Solvency68.6%within the sector's middle half-72.7%within the sector's middle half▲ 4.1pp68.0%within the sector's middle half▼ 4.7pp
Current ratio2.38within the sector's middle half-3.61within the sector's middle half▲ 1.230.54below the sector's middle half▼ 3.06
Return on assets (ROA)67.4%above the sector's middle half-49.0%above the sector's middle half▼ 18.4pp26.9%within the sector's middle half▼ 22.1pp
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 1% higher than in 2024 and the highest since 2023. It is the second rise in a row.
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 €631,142
Fixed assets
€521,207 ▲ 96×
Current assets
€109,935 ▼ 68.7%
Equity and liabilities €631,142
Equity
€429,246 ▲ 65.3%
Debt
€201,896 ▲ 107%
Debt's share of the balance-sheet total rises from 27.3% to 32.0%. Equity and debt are higher.
Key figures and ratios
EBITDA
€238,476▲
2024 · €230,664
Cash flow
€175,008▼
2024 · €175,676
Debt to equity
0.47▲
2024 · 0.38
ROE
39.5%▼
2024 · 67.4%
Interest coverage
39.82▼
2024 · 50.09
Debt ≤ 1 year
€201,896▲
2024 · €97,553
Income taxes
€58,800▲
2024 · €53,355
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 | 0 |
| full-time | 0 |
| part-time | 0 |
Source: social balance sheet in the 2025 annual accounts
Investments
| Item | 2023 | 2024 | 2025 |
|---|---|---|---|
| Tangible fixed assets | €905 | €5,234 | €21,080 |
| Financial fixed assets | €30,843 | - | €500,055 |
| Depreciation and write-downs of the year | €14 | €689 | €5,364 |
Source: notes to the 2023 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €14 | €689 | €5,364 | ▲ 679% |
| Other operating charges640/8 | €1,412 | - | - | - |
| Gross operating margin9900 | €107,429 | €230,664 | €238,476 | ▲ 3.4% |
| Operating profit (loss)9901 | €106,003 | €229,976 | €233,112 | ▲ 1.4% |
| Financial income75/76B | €843 | €2,972 | €1,320 | ▼ 55.6% |
| Recurring financial income75 | €843 | €2,972 | €1,320 | ▼ 55.6% |
| Financial charges65/66B | €19 | €4,605 | €5,988 | ▲ 30.0% |
| Recurring financial charges65 | €19 | €4,605 | €5,988 | ▲ 30.0% |
| Profit (loss) for the period before taxes9903 | €106,827 | €228,343 | €228,443 | = |
| Income taxes67/77 | €21,894 | €53,355 | €58,800 | ▲ 10.2% |
| Profit (loss) for the period9904 | €84,933 | €174,988 | €169,643 | ▼ 3.1% |
| Profit (loss) for the period to be appropriated9905 | €84,933 | €174,988 | €169,643 | ▼ 3.1% |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Assets | ||||
| Total assets20/58 | €125,937 | €357,164 | €631,142 | ▲ 76.7% |
| Fixed assets21/28 | €31,734 | €5,436 | €521,207 | ▲ 96× |
| Tangible fixed assets22/27 | €891 | €5,436 | €21,152 | ▲ 289% |
| Furniture and vehicles24 | - | €778 | €15,708 | ▲ 20× |
| Other tangible fixed assets26 | €891 | €4,658 | €5,443 | ▲ 16.9% |
| Financial fixed assets28 | €30,843 | €0 | €500,055 | - |
| Current assets29/58 | €94,203 | €351,728 | €109,935 | ▼ 68.7% |
| Amounts receivable after more than one year29 | - | €31,687 | - | - |
| Other amounts receivable291 | - | €31,687 | - | - |
| Amounts receivable within one year40/41 | €32,635 | €92,115 | €20,071 | ▼ 78.2% |
| Trade receivables40 | €32,635 | €26,329 | €20,071 | ▼ 23.8% |
| Other amounts receivable41 | - | €65,786 | - | - |
| Current investments50/53 | - | €125,000 | €525 | ▼ 99.6% |
| Cash at bank and in hand54/58 | €59,145 | €100,385 | €86,053 | ▼ 14.3% |
| Deferred charges and accrued income490/1 | €2,423 | €2,541 | €3,286 | ▲ 29.3% |
| Equity and liabilities | ||||
| Total equity and liabilities10/49 | €125,937 | €357,164 | €631,142 | ▲ 76.7% |
| Equity10/15 | €86,333 | €259,603 | €429,246 | ▲ 65.3% |
| Contributions10/11 | €1,400 | €1,400 | €1,400 | = |
| Profit (loss) carried forward14 | €84,933 | €258,203 | €427,846 | ▲ 65.7% |
| Amounts payable17/49 | €39,604 | €97,561 | €201,896 | ▲ 107% |
| Amounts payable within one year42/48 | €39,604 | €97,553 | €201,896 | ▲ 107% |
| Trade debts44 | - | €348 | €159 | ▼ 54.3% |
| Suppliers440/4 | - | €348 | €159 | ▼ 54.3% |
| Taxes, remuneration and social security45 | €38,824 | €95,487 | €131,529 | ▲ 37.7% |
| Taxes450/3 | €38,824 | €93,487 | €131,529 | ▲ 40.7% |
| Remuneration and social security454/9 | - | €2,000 | - | - |
| Other amounts payable47/48 | €780 | €1,718 | €70,208 | ▲ 41× |
| Accrued charges and deferred income492/3 | - | €9 | - | - |
| Line | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|
| Profit (loss) for the period9904 | €84,933 | €174,988 | €169,643 | ▼ 3.1% |
| + Depreciation and write-downs630 | €14 | €689 | €5,364 | ▲ 679% |
| Operating cash flow (approximation) | €84,948 | €175,676 | €175,008 | ▼ 0.4% |
| Investment in fixed assets (approximation) | - | €25,610 | -€521,136 | - |
| Change in cash | - | €41,241 | -€14,332 | - |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.