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Open bankruptcyFinancials · financial year 2024, full format
2024 annual accounts filed 92 days after the deadline Filed on 31 October 2025, deadline 31 July 2025 (7 months after the close on 31 December 2024, Companies Code art. 3:10). Source: NBB, 2025-00557835.
Annual accounts 2024 filed on 31-10-2025 PDF all 14 filings
Turnover
≈ €9.2m
Estimated: probably between €7.2m and €13.0m
EBIT margin
Not included in this filing
Net result
-€951,826
2023 · €59,743
Working capital
-€3.5m▼ 21.0%
2023 · -€2.9m
Multi-year overview
2018 to 2024, 7 financial yearsOperating result
-€857,481
2024
20182024
Net result
-€951,826
2024
lowest quarter of the sector
20182024
Equity
€560,857
▼ 2.5%
2024
middle half of the sector
20182024
Total assets
€5.1m
▲ 3.1%
2024
highest quarter of the sector
20182024
Debt
€4.6m
▲ 3.8%
2024
20182024
Working capital
-€3.5m
▼ 21.0%
2024
lowest quarter of the sector
20182024
Solvency
10.9%
▼ 0.6pp
2024
lowest quarter of the sector
20182024
Current ratio
0.22
▼ 0.11
2024
lowest quarter of the sector
20182024
Return on assets (ROA)
-18.5%
▼ 19.7pp
2024
lowest quarter of the sector
20182024
Staff (FTE)
71.4
▼ 11.0%
2024
highest quarter of the sector
20182024
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2018201920202021202220232024
Operating result€0.07m-€0.03m▼ 53.2%€0.1m▲ 250%€0.2m▲ 77.3%€0.3m▲ 54.2%€0.2m▼ 28.8%-€0.9m
Net result€0.06m-€0.02m▼ 61.7%€0.1mabove the sector's middle half▲ 341%€0.07mabove the sector's middle half▼ 30.8%€0.009mwithin the sector's middle half▼ 87.9%€0.06mwithin the sector's middle half▲ 561%-€1.0mbelow the sector's middle half
Equity€0.1m-€0.3m▲ 150%€0.4mabove the sector's middle half▲ 33.2%€0.5mabove the sector's middle half▲ 17.3%€0.5mwithin the sector's middle half▲ 1.8%€0.6mwithin the sector's middle half▲ 11.6%€0.6mwithin the sector's middle half▼ 2.5%
Total assets€0.5m-€0.9m▲ 67.3%€1.2mabove the sector's middle half▲ 37.1%€2.4mabove the sector's middle half▲ 97.3%€3.8mwithin the sector's middle half▲ 61.0%€5.0mabove the sector's middle half▲ 29.8%€5.1mabove the sector's middle half▲ 3.1%
Debt€0.4m-€0.6m▲ 40.4%€0.8m▲ 39.4%€1.9m▲ 142%€3.3m▲ 77.0%€4.4m▲ 32.6%€4.6m▲ 3.8%
Working capital-€0.06m--€0.05m▲ 25.0%-€0.3mbelow the sector's middle half▼ 497%-€0.4mbelow the sector's middle half▼ 46.8%-€2.2mbelow the sector's middle half▼ 441%-€2.9mbelow the sector's middle half▼ 31.9%-€3.5mbelow the sector's middle half▼ 21.0%
Solvency24.7%-36.8%▲ 12.1pp35.8%within the sector's middle half▼ 1.1pp21.3%below the sector's middle half▼ 14.5pp13.4%below the sector's middle half▼ 7.8pp11.6%below the sector's middle half▼ 1.9pp10.9%below the sector's middle half▼ 0.6pp
Current ratio0.83-0.90▲ 0.070.63below the sector's middle half▼ 0.270.73below the sector's middle half▲ 0.100.32below the sector's middle half▼ 0.410.33below the sector's middle half▲ 0.010.22below the sector's middle half▼ 0.11
Return on assets (ROA)12.1%-2.8%▼ 9.4pp8.9%within the sector's middle half▲ 6.1pp3.1%below the sector's middle half▼ 5.8pp0.2%within the sector's middle half▼ 2.9pp1.2%within the sector's middle half▲ 1.0pp-18.5%below the sector's middle half▼ 19.7pp
Staff (FTE)9.5-20.1▲ 112%51.380.2above the sector's middle half71.4above the sector's middle half▼ 11.0%
above
within
below
The sector band is the middle half of the companies in Computer programming, consultancy and related activities (NACE 62). 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 a loss of €857,481, after a profit of €223,879 in 2023. It is the lowest result since 2020.
The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2024 in colour, 2023 as the grey bar beneath
Assets €5.1m
Fixed assets
€4.2m ▲ 16.9%
Current assets
€982,894 ▼ 31.2%
Equity and liabilities €5.1m
Equity
€560,857 ▼ 2.5%
Debt
€4.6m ▲ 3.8%
Debt's share of the balance-sheet total rises from 88.4% to 89.1%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€484,513▼
2023 · €493,679
Cash flow
-€578,858▼
2023 · €329,544
Debt to equity
8.15▲
2023 · 7.65
ROE
-169.7%▼
2023 · 10.4%
Interest coverage
-5.14▼
2023 · 2.34
Debt ≤ 1 year
€4.5m▲
2023 · €4.4m
Debt > 1 year
€40,000=
2023 · €40,000
Staff costs
€4.4m▼
2023 · €5.4m
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2023 | 31-12-2024 |
|---|---|---|---|
| Employees at the balance-sheet date | 67 | 78 | 64 |
| full-time | 66 | 71 | 58 |
| part-time | 1 | 7 | 6 |
| in full-time equivalents | 66.8 | 75.8 | 61.8 |
| Average over the year, in full-time equivalents | 51.3 | 80.2 | 71.4 |
| On a permanent contract | 67 | 74 | 63 |
| Joined | 46 | 21 | 17 |
| Left | 9 | 27 | 31 |
| Training hours | - | 3,258 | 57 |
Source: social balance sheet in the 2021 to 2024 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|
| Tangible fixed assets | €32,379 | €152,614 | €36,025 | €35,960 |
| Intangible fixed assets | €395,880 | €1.6m | €1.0m | - |
| Financial fixed assets | €189,119 | - | - | - |
| Depreciation and write-downs of the year | €84,111 | €260,345 | €269,800 | €372,969 |
Source: notes to the 2021 to 2024 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €3.1m | €5.2m | €5.4m | €4.4m | ▼ 19.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.01m | €0.02m | €0.04m | €0.08m | €0.3m | €0.3m | €0.4m | ▲ 38.2% |
| Other operating charges640/8 | - | - | - | €0.005m | €0.04m | - | €0.02m | - |
| Gross operating margin9900 | €0.6m | €1.2m | €1.9m | €3.4m | €5.8m | €5.9m | €3.9m | ▼ 34.2% |
| Operating profit (loss)9901 | €0.07m | €0.03m | €0.1m | €0.2m | €0.3m | €0.2m | -€0.9m | - |
| Financial income75/76B | - | - | - | €80 | €0.01m | €0.06m | €3 | ▼ 100.0% |
| Recurring financial income75 | - | - | €2 | €80 | €0.01m | €0.06m | €3 | ▼ 100.0% |
| Financial charges65/66B | - | - | - | €0.06m | €0.3m | €0.2m | €0.09m | ▼ 55.3% |
| Recurring financial charges65 | €0.006m | €0.007m | €0.007m | €0.04m | €0.3m | €0.2m | €0.09m | ▼ 55.3% |
| Non-recurring financial charges66B | - | - | - | €0.02m | - | - | - | - |
| Profit (loss) for the period before taxes9903 | €0.06m | €0.03m | €0.1m | €0.1m | €0.009m | €0.07m | -€1.0m | - |
| Income taxes67/77 | - | €0.002m | - | €0.07m | - | €0.01m | - | - |
| Profit (loss) for the period9904 | €0.06m | €0.02m | €0.1m | €0.07m | €0.009m | €0.06m | -€1.0m | - |
| Profit (loss) for the period to be appropriated9905 | €0.06m | €0.02m | €0.1m | €0.07m | €0.009m | €0.06m | -€1.0m | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €0.5m | €0.9m | €1.2m | €2.4m | €3.8m | €5.0m | €5.1m | ▲ 3.1% |
| Fixed assets21/28 | €0.2m | €0.5m | €0.7m | €1.3m | €2.8m | €3.5m | €4.2m | ▲ 16.9% |
| Intangible fixed assets21 | €0.07m | €0.1m | €0.3m | €0.6m | €2.0m | €2.7m | €3.3m | ▲ 22.0% |
| Tangible fixed assets22/27 | €0.008m | €0.007m | €0.02m | €0.05m | €0.2m | €0.2m | €0.2m | ▼ 1.1% |
| Plant, machinery and equipment23 | - | - | - | €0.03m | €0.02m | €0.009m | €0.006m | ▼ 36.0% |
| Furniture and vehicles24 | - | - | - | €0.02m | €0.01m | €0.04m | €0.04m | ▲ 8.2% |
| Other tangible fixed assets26 | - | - | - | €0.004m | €0.1m | €0.1m | €0.1m | ▼ 1.3% |
| Financial fixed assets28 | €0.2m | €0.3m | €0.4m | €0.6m | €0.6m | €0.6m | €0.6m | = |
| Current assets29/58 | €0.3m | €0.4m | €0.5m | €1.1m | €1.1m | €1.4m | €1.0m | ▼ 31.2% |
| Amounts receivable within one year40/41 | €0.3m | €0.4m | €0.5m | €0.9m | €1.0m | €1.4m | €1.0m | ▼ 31.9% |
| Trade receivables40 | - | - | - | €0.9m | €0.8m | €1.1m | €0.9m | ▼ 19.5% |
| Other amounts receivable41 | - | - | - | €0.02m | €0.2m | €0.3m | €0.04m | ▼ 84.5% |
| Cash at bank and in hand54/58 | €0.03m | €0.02m | - | €0.2m | €0.01m | - | €0.005m | - |
| Deferred charges and accrued income490/1 | - | - | - | €252 | €0.04m | €0.02m | €0.02m | ▼ 6.4% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €0.5m | €0.9m | €1.2m | €2.4m | €3.8m | €5.0m | €5.1m | ▲ 3.1% |
| Equity10/15 | €0.1m | €0.3m | €0.4m | €0.5m | €0.5m | €0.6m | €0.6m | ▼ 2.5% |
| Contributions10/11 | €0.02m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | = |
| Contributions outside capital11 | - | - | - | €0.1m | - | - | - | - |
| Other1109/19 | - | - | - | €0.1m | - | - | - | - |
| Revaluation surpluses12 | - | - | - | €0.2m | €0.2m | €0.2m | €1.2m | ▲ 436% |
| Reserves13 | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | = |
| Non-distributable reserves130/1 | - | - | - | €0.002m | €0.002m | €0.002m | €0.002m | = |
| Reserves not available under the articles1311 | - | - | - | €0.002m | €0.002m | €0.002m | €0.002m | = |
| Profit (loss) carried forward14 | €0.06m | €0.007m | €0.1m | €0.2m | €0.2m | €0.3m | -€0.7m | - |
| Amounts payable17/49 | €0.4m | €0.6m | €0.8m | €1.9m | €3.3m | €4.4m | €4.6m | ▲ 3.8% |
| Amounts payable after more than one year17 | €0.04m | €0.09m | €0.02m | €0.4m | €0.04m | €0.04m | €0.04m | = |
| Financial debts170/4 | - | - | - | €0.4m | €0.04m | €0.04m | €0.04m | = |
| Amounts payable within one year42/48 | €0.4m | €0.5m | €0.7m | €1.5m | €3.3m | €4.4m | €4.5m | ▲ 3.9% |
| Current portion of amounts payable after more than one year42 | - | - | - | €0.08m | €0.2m | €0.05m | €0.05m | = |
| Financial debts43 | - | - | - | - | - | €0.005m | - | - |
| Credit institutions430/8 | - | - | - | - | - | €0.005m | - | - |
| Trade debts44 | €0.3m | €0.3m | €0.4m | €0.8m | €2.4m | €1.7m | €0.7m | ▼ 56.2% |
| Suppliers440/4 | - | - | - | €0.8m | €2.4m | €1.7m | €0.7m | ▼ 56.2% |
| Taxes, remuneration and social security45 | - | - | - | €0.4m | €0.5m | €2.1m | €3.5m | ▲ 66.6% |
| Taxes450/3 | - | - | - | €0.06m | €0.03m | €0.005m | €1.8m | ▲ 381× |
| Remuneration and social security454/9 | - | - | - | €0.3m | €0.5m | €2.1m | €1.8m | ▼ 16.6% |
| Other amounts payable47/48 | - | - | - | €0.3m | €0.2m | €0.5m | €0.2m | ▼ 55.9% |
| Accrued charges and deferred income492/3 | - | - | - | - | €0.003m | - | - | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.06m | €0.02m | €0.1m | €0.07m | €0.009m | €0.06m | -€1.0m | - |
| + Depreciation and write-downs630 | €0.01m | €0.02m | €0.04m | €0.08m | €0.3m | €0.3m | €0.4m | ▲ 38.2% |
| Operating cash flow (approximation) | €0.08m | €0.04m | €0.1m | €0.2m | €0.3m | €0.3m | -€0.6m | - |
| Investment in fixed assets (approximation) | - | -€0.3m | -€0.3m | -€0.6m | -€1.8m | -€1.0m | -€1.0m | ▲ 6.1% |
| Change in cash | - | -€0.003m | - | - | -€0.1m | - | - | - |
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 14 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2024 | full format | 31-10-2025 | 2025-00557835 | |
| 31-12-2023 | full format | 29-08-2024 | 2024-00414749 | |
| 31-12-2022 | full format | 29-08-2023 | 2023-00431327 | |
| 31-12-2021 | micro format | 01-08-2022 | 2022-20264537 | |
| 31-12-2020 | micro format | 31-08-2021 | 2021-63000233 | |
| 31-12-2019 | micro format | 29-09-2020 | 2020-56900384 | |
| 31-12-2018 | full format | 07-08-2019 | 2019-44300595 | |
| 31-12-2017 | full format | 17-08-2018 | 2018-46400222 | |
| 31-12-2016 | full format | 03-07-2017 | 2017-28000596 | |
| 31-12-2015 | full format | 17-08-2016 | 2016-43900095 |