VISUAL SAFETY
ActiveFinancials · financial year 2024, micro format
2025 annual accounts not yet filed, deadline passed on 31 July 2026 The financial year closed on 31 December 2025. The accounts are due at the latest 7 months after the close (Companies Code art. 3:10). Source: NBB filings, as of 5 November 2026.
Annual accounts 2024 filed on 29-08-2025 PDF all 16 filings
Turnover
≈ €170,000
Estimated: probably between €120,000 and €210,000
Total assets
€695,863▲ 25.9%
2023 · €552,769
Net result
€56,071▼ 24.7%
2023 · €74,451
Working capital
-€30,573
2023 · €184,505
Multi-year overview
2018 to 2024, 7 financial yearsOperating result
€78,018
▼ 28.5%
2024
20182024
Net result
€56,071
▼ 24.7%
2024
middle half of the sector
20182024
Equity
€505,869
▲ 12.5%
2024
highest quarter of the sector
20182024
Total assets
€695,863
▲ 25.9%
2024
highest quarter of the sector
20182024
Debt
€189,994
▲ 84.5%
2024
20182024
Working capital
-€30,573
2024
lowest quarter of the sector
20182024
Solvency
72.7%
▼ 8.7pp
2024
middle half of the sector
20182024
Current ratio
0.84
▼ 1.95
2024
lowest quarter of the sector
20182024
Return on assets (ROA)
8.1%
▼ 5.4pp
2024
middle half of the sector
20182024
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2018201920202021202220232024
Operating result€36,681-€52,325▲ 42.6%€51,084▼ 2.4%-€5,347€32,280€109,052▲ 238%€78,018▼ 28.5%
Net result€25,245-€42,392▲ 67.9%€44,032within the sector's middle half▲ 3.9%-€313below the sector's middle half€24,443within the sector's middle half€74,451above the sector's middle half▲ 205%€56,071within the sector's middle half▼ 24.7%
Equity€264,794-€307,186▲ 16.0%€351,218within the sector's middle half▲ 14.3%€350,905within the sector's middle half▼ 0.1%€375,347within the sector's middle half▲ 7.0%€449,798above the sector's middle half▲ 19.8%€505,869above the sector's middle half▲ 12.5%
Total assets€291,811-€335,188▲ 14.9%€376,740within the sector's middle half▲ 12.4%€367,490below the sector's middle half▼ 2.5%€412,515within the sector's middle half▲ 12.3%€552,769above the sector's middle half▲ 34.0%€695,863above the sector's middle half▲ 25.9%
Debt€27,017-€28,002▲ 3.6%€25,522▼ 8.9%€16,585▼ 35.0%€37,167▲ 124%€102,972▲ 177%€189,994▲ 84.5%
Working capital€183,716-€154,325▼ 16.0%€122,764within the sector's middle half▼ 20.5%€167,963within the sector's middle half▲ 36.8%€223,053within the sector's middle half▲ 32.8%€184,505above the sector's middle half▼ 17.3%-€30,573below the sector's middle half
Solvency90.7%-91.6%▲ 0.9pp93.2%above the sector's middle half▲ 1.6pp95.5%above the sector's middle half▲ 2.3pp91.0%above the sector's middle half▼ 4.5pp81.4%above the sector's middle half▼ 9.6pp72.7%within the sector's middle half▼ 8.7pp
Current ratio7.91-6.54▼ 1.375.81above the sector's middle half▼ 0.7311.13above the sector's middle half▲ 5.327.01above the sector's middle half▼ 4.122.79within the sector's middle half▼ 4.210.84below the sector's middle half▼ 1.95
Return on assets (ROA)8.7%-12.6%▲ 4.0pp11.7%within the sector's middle half▼ 1.0pp-0.1%below the sector's middle half▼ 11.8pp5.9%within the sector's middle half▲ 6.0pp13.5%within the sector's middle half▲ 7.5pp8.1%within the sector's middle half▼ 5.4pp
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 2024 is 28% lower than in 2023.
Turnover and EBIT margin are not published. The abbreviated or micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €695,863
Fixed assets
€536,442 ▲ 102%
Current assets
€159,420 ▼ 44.5%
Equity and liabilities €695,863
Equity
€505,869 ▲ 12.5%
Debt
€189,994 ▲ 84.5%
Debt's share of the balance-sheet total rises from 18.6% to 27.3%. Equity and debt are higher.
Key figures and ratios
ROE
11.1%▼
2023 · 16.6%
Debt ≤ 1 year
€189,994▲
2023 · €102,972
Income taxes
€23,124▼
2023 · €24,487
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Overdue debts
| Item | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Overdue tax debts | - | €11,905 | - | - |
Source: notes to the 2021 to 2024 annual accounts (statement of debts)
Investments
| Item | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Tangible fixed assets | - | - | €6,495 | €4,104 |
| Financial fixed assets | - | - | - | €269,435 |
| Depreciation and write-downs of the year | €490 | - | €1,720 | €2,390 |
Source: notes to the 2021 to 2024 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,080 | €1,281 | €1,281 | €490 | - | €1,720 | €2,390 | ▲ 38.9% |
| Other operating charges640/8 | - | - | - | €969 | €1,449 | €1,850 | €168 | ▼ 90.9% |
| Gross operating margin9900 | €39,703 | €54,743 | €53,491 | -€3,888 | €33,729 | €112,622 | €80,576 | ▼ 28.5% |
| Operating profit (loss)9901 | €36,681 | €52,325 | €51,084 | -€5,347 | €32,280 | €109,052 | €78,018 | ▼ 28.5% |
| Financial income75/76B | - | - | - | €7,810 | €6,956 | €2,536 | €2,903 | ▲ 14.5% |
| Recurring financial income75 | €4,339 | €5,585 | €8,362 | €7,810 | €6,956 | €2,536 | €2,903 | ▲ 14.5% |
| Financial charges65/66B | - | - | - | €1,020 | €5,793 | €12,650 | €1,726 | ▼ 86.4% |
| Recurring financial charges65 | €7,036 | €1,463 | €2,533 | €1,020 | €5,793 | €12,650 | €1,726 | ▼ 86.4% |
| Profit (loss) for the period before taxes9903 | €33,984 | €56,447 | €56,914 | €1,443 | €33,443 | €98,938 | €79,195 | ▼ 20.0% |
| Income taxes67/77 | €8,739 | €14,054 | €12,882 | €1,756 | €9,000 | €24,487 | €23,124 | ▼ 5.6% |
| Profit (loss) for the period9904 | €25,245 | €42,392 | €44,032 | -€313 | €24,443 | €74,451 | €56,071 | ▼ 24.7% |
| Profit (loss) for the period to be appropriated9905 | €25,245 | €42,392 | €44,032 | -€313 | €24,443 | €74,451 | €56,071 | ▼ 24.7% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €291,811 | €335,188 | €376,740 | €367,490 | €412,515 | €552,769 | €695,863 | ▲ 25.9% |
| Fixed assets21/28 | €81,493 | €153,010 | €228,454 | €182,942 | €152,321 | €265,293 | €536,442 | ▲ 102% |
| Tangible fixed assets22/27 | €1,867 | €1,771 | €490 | - | - | €4,775 | €6,489 | ▲ 35.9% |
| Furniture and vehicles24 | - | - | - | - | - | €4,775 | €6,489 | ▲ 35.9% |
| Financial fixed assets28 | €79,626 | €151,239 | €227,964 | €182,942 | €152,321 | €260,518 | €529,953 | ▲ 103% |
| Current assets29/58 | €210,317 | €182,178 | €148,287 | €184,548 | €260,194 | €287,477 | €159,420 | ▼ 44.5% |
| Amounts receivable within one year40/41 | €89,678 | €107,571 | €88,780 | €177,580 | €251,956 | €277,983 | €141,107 | ▼ 49.2% |
| Trade receivables40 | - | - | - | €94,576 | €202,029 | €196,985 | €51,536 | ▼ 73.8% |
| Other amounts receivable41 | - | - | - | €83,004 | €49,926 | €80,998 | €89,571 | ▲ 10.6% |
| Current investments50/53 | - | - | €3,353 | €3,353 | €3,353 | €3,353 | €3,353 | = |
| Cash at bank and in hand54/58 | €120,467 | €74,435 | €55,883 | €3,443 | €2,226 | €5,938 | €379 | ▼ 93.6% |
| Deferred charges and accrued income490/1 | - | - | - | €172 | €2,659 | €203 | €14,581 | ▲ 72× |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €291,811 | €335,188 | €376,740 | €367,490 | €412,515 | €552,769 | €695,863 | ▲ 25.9% |
| Equity10/15 | €264,794 | €307,186 | €351,218 | €350,905 | €375,347 | €449,798 | €505,869 | ▲ 12.5% |
| Contributions10/11 | €6,200 | €6,200 | - | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €258,594 | €300,986 | €345,018 | €345,018 | €369,147 | €443,598 | €499,669 | ▲ 12.6% |
| 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 | - | - | - | €343,158 | €367,287 | €441,738 | €497,809 | ▲ 12.7% |
| Profit (loss) carried forward14 | - | - | - | -€313 | - | - | - | - |
| Amounts payable17/49 | €27,017 | €28,002 | €25,522 | €16,585 | €37,167 | €102,972 | €189,994 | ▲ 84.5% |
| Amounts payable within one year42/48 | €26,601 | €27,853 | €25,522 | €16,585 | €37,141 | €102,972 | €189,994 | ▲ 84.5% |
| Financial debts43 | - | - | - | - | €532 | €0 | - | - |
| Credit institutions430/8 | - | - | - | - | €532 | €0 | - | - |
| Trade debts44 | €1,566 | €1,767 | €1,662 | €1,380 | €14,615 | €10,799 | €55,133 | ▲ 411% |
| Suppliers440/4 | - | - | - | €1,380 | €14,615 | €10,799 | €55,133 | ▲ 411% |
| Taxes, remuneration and social security45 | - | - | - | €15,206 | €21,993 | €92,173 | €134,861 | ▲ 46.3% |
| Taxes450/3 | - | - | - | €8,859 | €21,993 | €88,918 | €134,861 | ▲ 51.7% |
| Remuneration and social security454/9 | - | - | - | €6,346 | - | €3,255 | €0 | ▼ 100% |
| Accrued charges and deferred income492/3 | - | - | - | - | €26 | €0 | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €25,245 | €42,392 | €44,032 | -€313 | €24,443 | €74,451 | €56,071 | ▼ 24.7% |
| + Depreciation and write-downs630 | €1,080 | €1,281 | €1,281 | €490 | - | €1,720 | €2,390 | ▲ 38.9% |
| Operating cash flow (approximation) | €26,325 | €43,674 | €45,313 | €176 | €24,443 | €76,171 | €58,461 | ▼ 23.2% |
| Investment in fixed assets (approximation) | - | -€72,798 | -€76,725 | €45,022 | €30,621 | -€114,692 | -€273,540 | ▼ 138% |
| Change in cash | - | -€46,032 | -€18,552 | -€52,440 | -€1,217 | €3,712 | -€5,559 | - |
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 16 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2024 | micro format | 29-08-2025 | 2025-00437609 | |
| 31-12-2023 | micro format | 28-02-2025 | 2025-00044124 | |
| 31-12-2022 | abbreviated format | 14-07-2023 | 2023-00241039 | |
| 31-12-2021 | abbreviated format | 23-12-2022 | 2022-20544715 | |
| 31-12-2020 | abbreviated format | 08-06-2021 | 2021-17800386 | |
| 31-12-2019 | abbreviated format | 09-07-2020 | 2020-27700006 | |
| 31-12-2018 | abbreviated format | 07-06-2019 | 2019-16400567 | |
| 31-12-2017 | micro format | 06-06-2018 | 2018-15900001 | |
| 31-12-2016 | micro format | 09-06-2017 | 2017-15700002 | |
| 31-12-2015 | abbreviated format | 15-06-2016 | 2016-17400429 |