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InactiveFrom the official registers: KBO 12 annual accounts at the National Bank publications in the Belgian Official Gazette
Financials · financial year 2025, micro format
Latest annual accounts filed
Annual accounts 2025
- Financial year ended
- 31-12-2025
- Filed on
- 29-05-2026
- Format
- micro format
- Reference
- 2026-00125399
Turnover
≈ €550,000
Estimated: probably between €390,000 and €800,000
Total assets
€264,730▲ 42.5%
2024 · €185,733
Net result
€239,233
2024 · -€3,126
Working capital
€206,352
2024 · -€72,038
Trend over the years
2021 to 2025, 5 financial years 2018 to 2025, 8 financial years
The operating result for 2025 is nearly 81 times that of 2024 and the highest since 2021. It is the third rise in a row, after the fall in 2022.
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Operating result€272,745
2025
Net result€239,233
2025
Assets, equity and debt per financial year.
Total assets€264,730
2025
Equity€211,122
2025
Debt€53,607
2025
Above zero, the company can pay its short-term debts with what it holds in the short term.
Working capital€206,352
2025
Average staff per financial year, in full-time equivalents (FTE).
Staff (FTE)0.4
2024
Use the arrow keys on the chart for the figures per year.
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€14,909--€12,246-€76,943▼ 528%€8,756-€36,086-€31,684▲ 12.2%€3,385€272,745▲ 81×
Net result-€35,739--€20,476▲ 42.7%-€85,098▼ 316%€855-€42,501-€38,290▲ 9.9%-€3,126▲ 91.8%€239,233
Equity€160,525-€140,049▼ 12.8%€54,951▼ 60.8%€55,806▲ 1.6%€13,305▼ 76.2%-€24,985-€28,111▼ 12.5%€211,122
Total assets€907,302-€650,888▼ 28.3%€409,251▼ 37.1%€376,742▼ 7.9%€282,665▼ 25.0%€192,724▼ 31.8%€185,733▼ 3.6%€264,730▲ 42.5%
Debt€746,777-€510,839▼ 31.6%€354,300▼ 30.6%€320,936▼ 9.4%€269,360▼ 16.1%€217,709▼ 19.2%€213,844▼ 1.8%€53,607▼ 74.9%
Working capital€33,316--€6,989-€13,575▼ 94.2%€24,367-€41,768-€66,338▼ 58.8%-€72,038▼ 8.6%€206,352
Staff (FTE)8.5-15.7▲ 84.7%5.7▼ 63.7%0.7▼ 87.7%0.3▼ 57.1%0.4▲ 33.3%0.4=
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
2025 in colour, 2024 as the grey bar beneath
Assets €264,730
Fixed assets
€4,771 ▼ 97.2%
Current assets
€259,959 ▲ 15×
Equity and liabilities €264,730
Equity
€211,122
Debt
€53,607
Debt's share of the balance-sheet total is 20.2%.
Key figures and ratios
EBITDA
€273,419▲
2024 · €18,884
Cash flow
€239,907▲
2024 · €12,373
Current ratio
4.85▲
2024 · 0.19
Debt to equity
0.25
ROE
113.3%
ROA
90.4%▲
2024 · -1.7%
Interest coverage
69.57▲
2024 · 2.60
Debt ≤ 1 year
€53,607▼
2024 · €88,862
Debt > 1 year
€0▼
2024 · €124,982
Income taxes
€30,348
Staff costs
€1,316▼
2024 · €17,125
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | - | €2,849 | €325,284 | ▲ 114× |
| Remuneration, social security and pensions62 | - | - | - | €12,404 | €13,165 | €19,642 | €17,125 | €1,316 | ▼ 92.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €36,249 | €35,117 | €46,325 | €34,171 | €23,827 | €18,345 | €15,499 | €674 | ▼ 95.6% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | - | - | - | €23,999 | - | - | - | - |
| Other operating charges640/8 | - | - | - | €6,270 | €9,265 | €1,490 | €10,622 | €1,113 | ▼ 89.5% |
| Non-recurring operating charges66A | - | - | - | €405 | - | €11,311 | €5,339 | €0 | ▼ 100% |
| Gross operating margin9900 | €444,745 | €583,440 | €162,713 | €62,006 | €34,170 | €19,104 | €51,970 | €275,848 | ▲ 431% |
| Operating profit (loss)9901 | €14,909 | -€12,246 | -€76,943 | €8,756 | -€36,086 | -€31,684 | €3,385 | €272,745 | ▲ 81× |
| Financial income75/76B | - | - | - | €17 | €9 | €504 | €739 | €766 | ▲ 3.6% |
| Recurring financial income75 | €727 | - | €1 | €17 | €9 | €504 | €739 | €766 | ▲ 3.6% |
| Financial charges65/66B | - | - | - | €7,852 | €6,424 | €7,110 | €7,250 | €3,930 | ▼ 45.8% |
| Recurring financial charges65 | €11,564 | €6,470 | €8,156 | €7,852 | €6,424 | €7,110 | €7,250 | €3,930 | ▼ 45.8% |
| Profit (loss) for the period before taxes9903 | €4,072 | -€18,716 | -€85,098 | €921 | -€42,501 | -€38,290 | -€3,126 | €269,581 | - |
| Income taxes67/77 | €39,811 | €1,760 | - | €66 | - | - | - | €30,348 | - |
| Profit (loss) for the period9904 | -€35,739 | -€20,476 | -€85,098 | €855 | -€42,501 | -€38,290 | -€3,126 | €239,233 | - |
| Profit (loss) for the period to be appropriated9905 | -€35,739 | -€20,476 | -€85,098 | €855 | -€42,501 | -€38,290 | -€3,126 | €239,233 | - |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €907,302 | €650,888 | €409,251 | €376,742 | €282,665 | €192,724 | €185,733 | €264,730 | ▲ 42.5% |
| Fixed assets21/28 | €391,361 | €373,369 | €320,434 | €243,270 | €202,755 | €184,409 | €168,910 | €4,771 | ▼ 97.2% |
| Tangible fixed assets22/27 | €391,360 | €373,168 | €320,233 | €243,069 | €202,554 | €184,208 | €168,709 | €4,771 | ▼ 97.2% |
| Land and buildings22 | - | - | - | €212,361 | €197,265 | €182,250 | €168,511 | €0 | ▼ 100% |
| Plant, machinery and equipment23 | - | - | - | €2,260 | €4,400 | €1,958 | €198 | €4,771 | ▲ 24× |
| Furniture and vehicles24 | - | - | - | €28,448 | €889 | - | - | - | - |
| Financial fixed assets28 | €1 | €201 | €201 | €201 | €201 | €201 | €201 | €0 | ▼ 100% |
| Current assets29/58 | €515,941 | €277,519 | €88,817 | €133,472 | €79,910 | €8,315 | €16,823 | €259,959 | ▲ 15× |
| Amounts receivable after more than one year29 | - | - | - | €23,999 | - | - | - | - | - |
| Other amounts receivable291 | - | - | - | €23,999 | - | - | - | - | - |
| Amounts receivable within one year40/41 | €459,935 | €217,774 | €59,846 | €100,055 | €74,031 | €8,050 | €14,763 | €86,525 | ▲ 486% |
| Trade receivables40 | - | - | - | €90,795 | €63,464 | €3,357 | - | €768 | - |
| Other amounts receivable41 | - | - | - | €9,260 | €10,567 | €4,694 | €14,763 | €85,757 | ▲ 481% |
| Cash at bank and in hand54/58 | €31,087 | €33,534 | €3,591 | €3,690 | - | - | €1,656 | €173,434 | ▲ 105× |
| Deferred charges and accrued income490/1 | - | - | - | €5,728 | €5,879 | €264 | €405 | €0 | ▼ 100% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €907,302 | €650,888 | €409,251 | €376,742 | €282,665 | €192,724 | €185,733 | €264,730 | ▲ 42.5% |
| Equity10/15 | €160,525 | €140,049 | €54,951 | €55,806 | €13,305 | -€24,985 | -€28,111 | €211,122 | - |
| Contributions10/11 | €6,200 | €6,200 | - | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €20,610 | €120,610 | €120,610 | €120,610 | €120,610 | €120,610 | €120,610 | €204,922 | ▲ 69.9% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | - | - | - | - |
| Tax-exempt reserves132 | - | - | - | €18,750 | €18,750 | €18,750 | €18,750 | €18,750 | = |
| Distributable reserves133 | - | - | - | €100,000 | €100,000 | €101,860 | €101,860 | €186,172 | ▲ 82.8% |
| Profit (loss) carried forward14 | €133,715 | €13,239 | -€71,859 | -€71,004 | -€113,505 | -€151,795 | -€154,921 | €0 | - |
| Amounts payable17/49 | €746,777 | €510,839 | €354,300 | €320,936 | €269,360 | €217,709 | €213,844 | €53,607 | ▼ 74.9% |
| Amounts payable after more than one year17 | €264,152 | €226,331 | €251,908 | €211,831 | €147,682 | €143,056 | €124,982 | €0 | ▼ 100% |
| Financial debts170/4 | - | - | - | €211,831 | €147,682 | €143,056 | €124,982 | €0 | ▼ 100% |
| Amounts payable within one year42/48 | €482,625 | €284,508 | €102,392 | €109,105 | €121,678 | €74,653 | €88,862 | €53,607 | ▼ 39.7% |
| Current portion of amounts payable after more than one year42 | - | - | - | €38,812 | €60,353 | €38,187 | €18,674 | €0 | ▼ 100% |
| Financial debts43 | - | - | - | - | €2,468 | €651 | - | - | - |
| Credit institutions430/8 | - | - | - | - | €2,468 | €651 | - | - | - |
| Trade debts44 | €369,149 | €211,624 | €68,603 | €11,335 | €12,163 | €11,974 | €11,389 | €0 | ▼ 100% |
| Suppliers440/4 | - | - | - | €11,335 | €12,163 | €11,974 | €11,389 | €0 | ▼ 100% |
| Taxes, remuneration and social security45 | - | - | - | €9,958 | €2,154 | €5,610 | €2,926 | €12,848 | ▲ 339% |
| Taxes450/3 | - | - | - | €8,336 | €973 | €2,531 | €2,128 | €12,848 | ▲ 504% |
| Remuneration and social security454/9 | - | - | - | €1,622 | €1,181 | €3,079 | €799 | €0 | ▼ 100% |
| Other amounts payable47/48 | - | - | - | €49,000 | €44,540 | €18,230 | €55,872 | €40,760 | ▼ 27.0% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€35,739 | -€20,476 | -€85,098 | €855 | -€42,501 | -€38,290 | -€3,126 | €239,233 | - |
| + Depreciation and write-downs630 | €36,249 | €35,117 | €46,325 | €34,171 | €23,827 | €18,345 | €15,499 | €674 | ▼ 95.6% |
| Operating cash flow (approximation) | €510 | €14,641 | -€38,773 | €35,026 | -€18,674 | -€19,945 | €12,373 | €239,907 | ▲ 19× |
| Investment in fixed assets (approximation) | - | -€17,125 | €6,610 | €42,993 | €16,688 | €1 | €0 | €163,465 | - |
| Change in cash | - | €2,447 | -€29,943 | €99 | - | - | - | €171,778 | - |
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 12 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 29-05-2026 | 2026-00125399 | |
| 31-12-2024 | abbreviated format | 29-08-2025 | 2025-00436455 | |
| 31-12-2023 | abbreviated format | 07-10-2024 | 2024-00496592 | |
| 31-12-2022 | abbreviated format | 24-08-2023 | 2023-00349440 | |
| 31-12-2021 | abbreviated format | 01-08-2022 | 2022-20255799 | |
| 31-12-2020 | abbreviated format | 31-08-2021 | 2021-60700345 | |
| 31-12-2019 | abbreviated format | 21-09-2020 | 2020-54600049 | |
| 31-12-2018 | abbreviated format | 04-07-2019 | 2019-28600247 | |
| 30-09-2017 | abbreviated format | 29-06-2018 | 2018-29200340 | |
| 30-09-2016 | abbreviated format | 27-11-2017 | 2017-70300349 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.