VR4TR
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 10-07-2026 at the NBB all 4 filings
Turnover
≈ €38,000
Estimated: probably between €19,000 and €77,000
Total assets
€1.4m▲ 15.9%
2024 · €1.2m
Net result
€13,753▲ 97.1%
2024 · €6,977
Working capital
€235,239▲ 611%
2024 · €33,096
Multi-year overview
2022 to 2025, 4 financial yearsOperating result
€7,702
▲ 6.6%
2025
20222025
Net result
€13,753
▲ 97.1%
2025
middle half of the sector
20222025
Equity
€14,904
▲ 13×
2025
lowest quarter of the sector
20222025
Total assets
€1.4m
▲ 15.9%
2025
highest quarter of the sector
20222025
Debt
€1.4m
▲ 14.8%
2025
20222025
Working capital
€235,239
▲ 611%
2025
highest quarter of the sector
20222025
Solvency
1.0%
▲ 0.9pp
2025
lowest quarter of the sector
20222025
Current ratio
97.47
▲ 92.37
2025
highest quarter of the sector
20222025
Return on assets (ROA)
1.0%
▲ 0.4pp
2025
lowest quarter of the sector
20222025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2022202320242025
Operating result€0.02m-€0.009m▼ 47.9%€0.007m▼ 20.2%€0.008m▲ 6.6%
Net result€0.001mbelow the sector's middle half--€0.007mbelow the sector's middle half€0.007mwithin the sector's middle half€0.01mwithin the sector's middle half▲ 97.1%
Equity€0.001mbelow the sector's middle half--€0.006mbelow the sector's middle half€0.001mbelow the sector's middle half€0.01mbelow the sector's middle half▲ 13×
Total assets€0.5mabove the sector's middle half-€0.5mabove the sector's middle half▲ 1.9%€1.2mabove the sector's middle half▲ 128%€1.4mabove the sector's middle half▲ 15.9%
Debt€0.5m-€0.5m▲ 3.1%€1.2m▲ 126%€1.4m▲ 14.8%
Working capital€0.02mwithin the sector's middle half-€0.03mwithin the sector's middle half▲ 68.0%€0.03mwithin the sector's middle half▲ 26.7%€0.2mabove the sector's middle half▲ 611%
Solvency0.2%below the sector's middle half--1.1%below the sector's middle half▼ 1.3pp0.1%below the sector's middle half▲ 1.2pp1.0%below the sector's middle half▲ 0.9pp
Current ratio3.80within the sector's middle half-6.37above the sector's middle half▲ 2.585.11above the sector's middle half▼ 1.2797.47above the sector's middle half▲ 92.37
Return on assets (ROA)0.2%below the sector's middle half--1.3%below the sector's middle half▼ 1.4pp0.6%below the sector's middle half▲ 1.8pp1.0%below the sector's middle half▲ 0.4pp
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 2025 is 7% higher than in 2024. It is a recovery after the fall in 2024.
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 €1.4m
Fixed assets
€1.2m =
Current assets
€237,677 ▲ 478%
Equity and liabilities €1.4m
Equity
€14,904 ▲ 13×
Debt
€1.4m ▲ 14.8%
Debt's share of the balance-sheet total falls from 99.9% to 99.0%. Equity and debt are higher.
Key figures and ratios
Debt to equity
95.27
ROE
92.3%▼
2024 · 605.8%
Debt ≤ 1 year
€2,438▼
2024 · €8,059
Debt > 1 year
€1.4m▲
2024 · €1.2m
Income taxes
€4,842▲
2024 · €208
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Financial fixed assets | €511,111 | - | €686,026 | - |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Other operating charges640/8 | €1,131 | €510 | €513 | €527 | ▲ 2.8% |
| Gross operating margin9900 | €18,510 | €9,571 | €7,742 | €8,230 | ▲ 6.3% |
| Operating profit (loss)9901 | €17,379 | €9,061 | €7,228 | €7,702 | ▲ 6.6% |
| Financial income75/76B | - | - | - | €10,942 | - |
| Recurring financial income75 | - | - | - | €10,942 | - |
| Financial charges65/66B | €16,062 | €15,875 | €44 | €49 | ▲ 12.8% |
| Recurring financial charges65 | €16,062 | €15,875 | €44 | €49 | ▲ 12.8% |
| Profit (loss) for the period before taxes9903 | €1,317 | -€6,814 | €7,185 | €18,595 | ▲ 159% |
| Income taxes67/77 | €329 | €0 | €208 | €4,842 | ▲ 23× |
| Profit (loss) for the period9904 | €988 | -€6,814 | €6,977 | €13,753 | ▲ 97.1% |
| Profit (loss) for the period to be appropriated9905 | €988 | -€6,814 | €6,977 | €13,753 | ▲ 97.1% |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Assets | |||||
| Total assets20/58 | €0.5m | €0.5m | €1.2m | €1.4m | ▲ 15.9% |
| Fixed assets21/28 | €0.5m | €0.5m | €1.2m | €1.2m | = |
| Financial fixed assets28 | €0.5m | €0.5m | €1.2m | €1.2m | = |
| Current assets29/58 | €0.02m | €0.03m | €0.04m | €0.2m | ▲ 478% |
| Amounts receivable after more than one year29 | - | - | - | €0.2m | - |
| Other amounts receivable291 | - | - | - | €0.2m | - |
| Amounts receivable within one year40/41 | €0.02m | €0.03m | €0.04m | €0.03m | ▼ 27.6% |
| Trade receivables40 | €0.02m | €0.03m | €0.04m | €0.03m | ▼ 27.6% |
| Cash at bank and in hand54/58 | €0.001m | €282 | €0.005m | €0.02m | ▲ 271% |
| Deferred charges and accrued income490/1 | - | - | - | €0.005m | - |
| Equity and liabilities | |||||
| Total equity and liabilities10/49 | €0.5m | €0.5m | €1.2m | €1.4m | ▲ 15.9% |
| Equity10/15 | €0.001m | -€0.006m | €0.001m | €0.01m | ▲ 13× |
| Contributions10/11 | - | €1 | €1 | €1 | = |
| Reserves13 | €0.001m | €0 | €0.001m | €0.01m | ▲ 13× |
| Distributable reserves133 | €0.001m | €0 | €0.001m | €0.01m | ▲ 13× |
| Profit (loss) carried forward14 | - | -€0.006m | €0 | - | - |
| Amounts payable17/49 | €0.5m | €0.5m | €1.2m | €1.4m | ▲ 14.8% |
| Amounts payable after more than one year17 | €0.5m | €0.5m | €1.2m | €1.4m | ▲ 15.3% |
| Other amounts payable178/9 | €0.5m | €0.5m | €1.2m | €1.4m | ▲ 15.3% |
| Amounts payable within one year42/48 | €0.006m | €0.005m | €0.008m | €0.002m | ▼ 69.7% |
| Trade debts44 | €424 | €109 | €0.008m | €0 | ▼ 100% |
| Suppliers440/4 | €424 | €109 | €0.008m | €0 | ▼ 100% |
| Taxes, remuneration and social security45 | €0.005m | €0.005m | €208 | €442 | ▲ 113% |
| Taxes450/3 | €0.005m | €0.005m | €208 | €442 | ▲ 113% |
| Other amounts payable47/48 | - | - | - | €0.002m | - |
| Accrued charges and deferred income492/3 | €0.01m | €0 | - | €4 | - |
| Line | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €988 | -€6,814 | €6,977 | €13,753 | ▲ 97.1% |
| Operating cash flow (approximation) | €988 | -€6,814 | €6,977 | €13,753 | ▲ 97.1% |
| Investment in fixed assets (approximation) | - | €0 | -€686,026 | €0 | - |
| Change in cash | - | -€817 | €4,676 | €13,432 | ▲ 187% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.