YSA (0750.690.720): financials and annual accounts

YSA

Antwerp ·KBO/BCE: BE 0750.690.720

Line	2025	2024	2023	2022	2021	2020
Balance sheet: assets
Total assets`20/58`	119,776	160,341	144,482	174,369	182,548	189,011
Fixed assets`21/28`	95,323	116,522	119,516	142,896	156,825	164,792
Intangible fixed assets`21`	77,940	94,940	111,940	128,940	145,940	162,940
Tangible fixed assets`22/27`	17,383	21,582	7,576	13,956	10,886	1,402
Plant, machinery and equipment`23`	2,929	5,204	7,576	8,380	3,560	1,402
Furniture and vehicles`24`	1,738	2,204	0	5,576	7,326	-
Other tangible fixed assets`26`	12,715	14,175	-	-	-	-
Financial fixed assets`28`	-	-	-	-	-	450
Current assets`29/58`	24,453	43,819	24,966	31,473	25,723	24,219
Stocks and contracts in progress`3`	5,662	4,048	3,718	6,395	4,277	6,555
Stocks`30/36`	5,662	4,048	3,718	6,395	4,277	6,555
Amounts receivable within one year`40/41`	11,981	17,903	6,999	18,213	17,507	8,580
Trade receivables`40`	3,459	6,192	2,834	2,391	3,639	2,733
Other amounts receivable`41`	8,523	11,711	4,164	15,823	13,868	5,847
Current investments`50/53`	2	0	-	-	-	-
Cash at bank and in hand`54/58`	3,797	20,748	13,177	5,187	1,148	7,335
Deferred charges and accrued income`490/1`	3,011	1,120	1,072	1,677	2,792	1,749
Balance sheet: equity and liabilities
Total equity and liabilities`10/49`	119,776	160,341	144,482	174,369	182,548	189,011
Equity`10/15`	38,161	45,917	33,046	51,653	37,240	9,832
Contributions`10/11`	3,500	3,500	3,500	3,500	3,500	3,500
Reserves`13`	34,000	42,000	29,000	48,000	33,000	6,000
Distributable reserves`133`	34,000	42,000	29,000	48,000	33,000	6,000
Profit (loss) carried forward`14`	661	417	546	153	740	332
Amounts payable`17/49`	81,616	114,424	111,436	122,716	145,308	179,179
Amounts payable after more than one year`17`	-	-	0	26,500	68,500	110,500
Financial debts`170/4`	-	-	0	26,500	68,500	110,500
Amounts payable within one year`42/48`	81,616	114,416	111,436	96,216	76,808	68,679
Current portion of amounts payable after more than one year`42`	9,235	13,702	30,683	42,000	42,000	42,000
Financial debts`43`	9,373	11,911	3,598	-	-	-
Credit institutions`430/8`	2,868	2,671	-	-	-	-
Other loans`439`	6,506	9,240	3,598	-	-	-
Trade debts`44`	43,239	68,819	55,305	32,051	21,681	21,287
Suppliers`440/4`	43,239	68,819	55,305	32,051	21,681	21,287
Taxes, remuneration and social security`45`	18,259	19,985	21,849	22,165	13,128	5,391
Taxes`450/3`	3,640	5,059	9,670	8,176	3,249	1,490
Remuneration and social security`454/9`	14,620	14,925	12,180	13,989	9,878	3,902
Other amounts payable`47/48`	1,508	-	-	-	-	-
Accrued charges and deferred income`492/3`	0	8	-	-	-	-
Income statement
Gross operating margin`9900`	197,840	198,539	175,928	139,828	131,920	40,365
Remuneration, social security and pensions`62`	161,722	134,565	120,980	94,680	81,043	25,609
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets`630`	21,199	19,915	19,284	20,237	18,841	7,158
Other operating charges`640/8`	3,378	2,935	2,536	2,334	1,990	-
Non-recurring operating charges`66A`	0	1,099	706	-	-	-
Operating profit (loss)`9901`	11,542	40,025	32,421	22,577	30,046	7,598
Financial income`75/76B`	37	3	2	15	841	142
Recurring financial income`75`	37	3	2	15	841	142
Financial charges`65/66B`	18,886	22,025	9,089	3,648	2,576	718
Recurring financial charges`65`	18,886	22,025	9,089	3,648	2,521	718
Non-recurring financial charges`66B`	-	-	-	0	55	-
Profit (loss) for the period before taxes`9903`	-7,307	18,002	23,334	18,944	28,311	7,022
Income taxes`67/77`	449	5,132	6,940	4,531	903	690
Profit (loss) for the period`9904`	-7,756	12,871	16,394	14,413	27,408	6,332
Profit (loss) for the period to be appropriated`9905`	-7,756	12,871	16,394	14,413	27,408	6,332
Appropriation of the result
Profit (loss) to be appropriated`9906`	-7,339	13,417	16,546	15,153	27,740	6,332
Profit (loss) brought forward from the previous period`14P`	417	546	153	740	332	-
Transfer from equity`791/2`	8,000	0	35,000	-	-	-
Transfer to equity`691/2`	0	13,000	16,000	15,000	27,000	6,000
To other reserves`6921`	0	13,000	16,000	15,000	27,000	6,000
Profit to be distributed`694/7`	-	0	35,000	-	-	-
Return on contributions (dividend)`694`	-	0	35,000	-	-	-
Social balance sheet
Average staff (FTE)`9087`	7.6	6.9	3.4	3.2	3.3	2
Hours worked`1013`	6,632	6,011	5,462	4,956	3,911	1,346
Document	PDF	PDF	PDF	PDF	PDF	PDF

Financial year	Type	Filed	Reference	Document
31-12-2025	micro format	15-06-2026	2026-00161090	PDF
31-12-2024	micro format	28-03-2025	2025-00064789	PDF
31-12-2023	micro format	08-05-2024	2024-00085414	PDF
31-12-2022	micro format	25-07-2023	2023-00266401	PDF
31-12-2021	micro format	25-05-2022	2022-20036185	PDF
31-12-2020	micro format	21-05-2021	2021-14900040	PDF

Line	2025	2024	2023	2022	2021	2020
EBITDA	32,741	59,940	51,705	42,814	48,887	14,756
Cash flow	13,443	32,786	35,678	34,650	46,249	13,490
Investment in fixed assets	0	16,921	1,480	6,307	11,325	171,950
Change in cash	-16,951	7,571	7,990	4,039	-6,187	-
Working capital	-57,162	-70,597	-86,469	-64,743	-51,086	-44,460
Solvency	31.9%	28.6%	22.9%	29.6%	20.4%	5.2%
Current ratio	0.30	0.38	0.22	0.33	0.33	0.35
Quick ratio	0.23	0.35	0.19	0.26	0.28	0.26
Debt to equity	2.14	2.49	3.37	2.38	3.90	18.22
ROE	-20.3%	28.0%	49.6%	27.9%	73.6%	64.4%
ROA	-6.5%	8.0%	11.3%	8.3%	15.0%	3.4%
Interest coverage	1.73	2.72	5.69	11.73	19.39	-

Item	31-12-2025	31-12-2024	31-12-2023	31-12-2022	31-12-2021
Employees at the balance-sheet date	10	9	5	5	6
full-time	2	1	1	2	1
part-time	8	8	4	3	5
in full-time equivalents	5	3.9	2.5	3.1	3
Average over the year, in full-time equivalents	5.2	3.9	3	2.8	2.4
On a permanent contract	10	9	5	5	6
Joined	114	62	79	89	53
Left	113	58	79	90	50

Item	2025	2024	2023	2022	2021
Tangible fixed assets	-	€16,921	€1,480	€6,307	€11,325
Financial fixed assets	€0	-	-	-	-
Depreciation and write-downs of the year	€21,199	€19,915	€19,284	€20,237	€18,841

YSA

Annual accounts 2025

Balance sheet

Change in equityin euro

Change in cashin euro

Position in the sector

Solvency31.9%

Current ratio0.30

Return on assets-6.5%

Staff

Staff cost per FTE€21,279

Joined and left+1

Filed annual accounts

Filings

Subsidies and aid

Flemish government 2025, 1 entry, €176 awarded, €176 paid

Key figures and ratios

Social balance sheet

Investments

Insights on YSA

Next steps