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Private limited companyfounded 2012Kantersteen 10, 1000 Brussel, BelgiumKBO/BCE: BE 0846.192.267
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Financials · financial year 2025, micro format

Annual accounts 2025 filed on 19-12-2025 PDF all 13 filings

Turnover
≈ €210,000
Estimated: probably between €190,000 and €280,000
Total assets
€62,155▼ 70.0%
2024 · €207,457
Net result
-€67,951▲ 84.5%
2024 · -€437,794
Working capital
-€205,973▼ 144%
2024 · -€84,536
Trend over the years

2021 to 2025, 5 financial years 2019 to 2025, 7 financial years

The operating result for 2025 is a loss of €47,492, smaller than the loss of €425,003 in 2024.

Operating result-€47,492 2025 Net result-€67,951 2025

Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.

Use the arrow keys on the chart for the figures per year.

The sector band is the middle half of the companies in Advertising, market research and public relations activities (NACE 73). 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 dashed line is the median. There is a sector band for net result, equity, total assets, working capital, solvency, current ratio, return on assets (ROA) and staff (FTE).

Every figure with its change against the financial year before
favourable unfavourable
Line2019202020212022202320242025
Operating result-€111,676-€5,970€98,832▲ 17×€108,367▲ 9.6%-€226,600-€425,003▼ 87.6%-€47,492▲ 88.8%
Net result-€119,998-€1,736within the sector's middle half€179,665above the sector's middle half▲ 103×€64,789above the sector's middle half▼ 63.9%-€241,630below the sector's middle half-€437,794below the sector's middle half▼ 81.2%-€67,951below the sector's middle half▲ 84.5%
Equity-€354,664--€352,928below the sector's middle half▲ 0.5%-€173,263below the sector's middle half▲ 50.9%€356,237above the sector's middle half€114,607within the sector's middle half▼ 67.8%-€323,188below the sector's middle half-€391,138below the sector's middle half▼ 21.0%
Total assets€204,277-€180,769within the sector's middle half▼ 11.5%€316,658within the sector's middle half▲ 75.2%€671,400above the sector's middle half▲ 112%€384,368above the sector's middle half▼ 42.8%€207,457within the sector's middle half▼ 46.0%€62,155within the sector's middle half▼ 70.0%
Debt€558,941-€533,698▼ 4.5%€489,921▼ 8.2%€315,163▼ 35.7%€269,761▼ 14.4%€530,645▲ 96.7%€453,293▼ 14.6%
Working capital€18,169-€7,838within the sector's middle half▼ 56.9%€124,208above the sector's middle half▲ 16×€376,436above the sector's middle half▲ 203%€115,854above the sector's middle half▼ 69.2%-€84,536below the sector's middle half-€205,973below the sector's middle half▼ 144%
Solvency-173.6%--195.2%below the sector's middle half▼ 21.6pp-54.7%below the sector's middle half▲ 140.5pp53.1%within the sector's middle half▲ 107.8pp29.8%within the sector's middle half▼ 23.2pp-155.8%below the sector's middle half▼ 185.6pp-629.3%below the sector's middle half▼ 473.5pp
Current ratio1.12-1.05within the sector's middle half▼ 0.081.66within the sector's middle half▲ 0.612.31within the sector's middle half▲ 0.651.44within the sector's middle half▼ 0.870.70below the sector's middle half▼ 0.740.21below the sector's middle half▼ 0.49
Return on assets (ROA)-58.7%-1.0%within the sector's middle half▲ 59.7pp56.7%above the sector's middle half▲ 55.8pp9.6%within the sector's middle half▼ 47.1pp-62.9%below the sector's middle half▼ 72.5pp-211.0%below the sector's middle half▼ 148.2pp-109.3%below the sector's middle half▲ 101.7pp
Staff (FTE)0.3-0.2below the sector's middle half▼ 33.3%0.5▲ 150%1.4▲ 180%5▲ 257%6.5▲ 30.0%2.1▼ 67.7%
above within below The sector band is the middle half of the companies in Advertising, market research and public relations activities (NACE 73). 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.
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 €62,155
Fixed assets €7,073 ▼ 31.0%
Current assets €55,083 ▼ 72.1%
Equity and liabilities
Equity-€391,138
Debt€453,293
Equity is negative. Debt (€453,293) exceeds the balance-sheet total (€62,155).
Key figures and ratios
2025 value · change against 2024
EBITDA
-€45,396▲
2024 · -€422,781
Cash flow
-€65,854▲
2024 · -€435,572
Interest coverage
-2.18▲
2024 · -31.30
Debt ≤ 1 year
€261,055▼
2024 · €281,746
Debt > 1 year
€192,238▼
2024 · €248,898
Staff costs
€143,296▼
2024 · €368,629
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.

Subsidies and aid

Flemish government

2022 to 2024 · 3 entries · €15,910 awarded · €14,681 paid
Year Entries AwardedPaid
2024 1 €3,780€5,191
2023 1 €6,025€9,490
2022 1 €6,105€0
Schemes
3 entries · €15,910 · €14,681 paid · Fonds voor Innoveren en Ondernemen
Annual accounts
Filed annual accounts As filed with the NBB · 2025 against 2024 · 47 lines

Source: Annual accounts 2025 (PDF), filed on 19-12-2025.

Balance sheet Code20242025
Assets
Total assets20/58€207,457€62,155▼
Fixed assets21/28€10,246€7,073▼
Intangible fixed assets21€3,544€2,080▼
Tangible fixed assets22/27€2,562€853▼
Furniture and vehicles24€2,562€853▼
Financial fixed assets28€4,140€4,140=
Current assets29/58€197,211€55,083▼
Amounts receivable within one year40/41€125,451€17,760▼
Trade receivables40€119,623€17,638▼
Other amounts receivable41€5,829€122▼
Cash at bank and in hand54/58€71,293€36,487▼
Deferred charges and accrued income490/1€467€835▲
Equity and liabilities
Total equity and liabilities10/49€207,457€62,155▼
Equity10/15-€323,188-€391,138▼
Contributions10/11€504,711€504,711=
Reserves13€4,371€4,371=
Distributable reserves133€4,371€4,371=
Profit (loss) carried forward14-€832,270-€900,220▼
Amounts payable17/49€530,645€453,293▼
Amounts payable after more than one year17€248,898€192,238▼
Financial debts170/4€248,898€192,238▼
Amounts payable within one year42/48€281,746€261,055▼
Current portion of amounts payable after more than one year42€38,796€63,571▲
Financial debts43€50,000€125,000▲
Credit institutions430/8€50,000€125,000▲
Trade debts44€169,874€59,161▼
Suppliers440/4€169,874€59,161▼
Taxes, remuneration and social security45€19,996€11,993▼
Taxes450/3€7,094€3,316▼
Remuneration and social security454/9€12,902€8,676▼
Other amounts payable47/48€3,080€1,331▼
Income statement Code20242025
Non-recurring operating income76A€2,645€0▼
Remuneration, social security and pensions62€368,629€143,296▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€2,223€2,097▼
Other operating charges640/8€0€118▲
Non-recurring operating charges66A-€373
Gross operating margin9900-€54,152€98,391▲
Operating profit (loss)9901-€425,003-€47,492▲
Financial income75/76B€716€408▼
Recurring financial income75€716€408▼
Financial charges65/66B€13,507€20,866▲
Recurring financial charges65€13,507€20,866▲
Profit (loss) for the period before taxes9903-€437,794-€67,951▲
Profit (loss) for the period9904-€437,794-€67,951▲
Profit (loss) for the period to be appropriated9905-€437,794-€67,951▲
Appropriation of the result
Profit (loss) to be appropriated9906-€832,270-€900,220▼
Profit (loss) brought forward from the previous period14P-€394,475-€832,270▼

The notes to these accounts have 16 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the filed accounts (PDF).

Line2019202020212022202320242025Change
Non-recurring operating income76A---€38,187€0€2,645€0▼ 100%
Remuneration, social security and pensions62---€67,250€262,211€368,629€143,296▼ 61.1%
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€72,633€32,549€2,452€1,475€1,766€2,223€2,097▼ 5.7%
Other operating charges640/8---€19,626€1,170€0€118-
Non-recurring operating charges66A---€0--€373-
Gross operating margin9900€22,642€63,638€128,341€196,718€38,547-€54,152€98,391-
Operating profit (loss)9901-€111,676€5,970€98,832€108,367-€226,600-€425,003-€47,492▲ 88.8%
Financial income75/76B---€213€225€716€408▼ 43.0%
Recurring financial income75€24€136€5,444€213€225€716€408▼ 43.0%
Financial charges65/66B---€43,723€15,254€13,507€20,866▲ 54.5%
Recurring financial charges65€8,238€4,245€4,915€43,723€15,254€13,507€20,866▲ 54.5%
Profit (loss) for the period before taxes9903-€119,890€1,861€179,781€64,858-€241,630-€437,794-€67,951▲ 84.5%
Income taxes67/77€108€125€116€68€0---
Profit (loss) for the period9904-€119,998€1,736€179,665€64,789-€241,630-€437,794-€67,951▲ 84.5%
Profit (loss) for the period to be appropriated9905-€119,998€1,736€179,665€64,789-€241,630-€437,794-€67,951▲ 84.5%
Line2019202020212022202320242025Change
Assets
Total assets20/58€204,277€180,769€316,658€671,400€384,368€207,457€62,155▼ 70.0%
Formation expenses20€27,148€1,600------
Fixed assets21/28€9,422€2,422€3,445€7,525€5,759€10,246€7,073▼ 31.0%
Intangible fixed assets21€6,216€2,422€1,945€6,400€5,009€3,544€2,080▼ 41.3%
Tangible fixed assets22/27€3,206-€1,500€1,125€750€2,562€853▼ 66.7%
Furniture and vehicles24---€1,125€750€2,562€853▼ 66.7%
Financial fixed assets28-----€4,140€4,140=
Current assets29/58€167,707€176,748€313,213€663,875€378,609€197,211€55,083▼ 72.1%
Amounts receivable within one year40/41€103,667€98,172€191,047€92,630€250,656€125,451€17,760▼ 85.8%
Trade receivables40---€79,545€240,525€119,623€17,638▼ 85.3%
Other amounts receivable41---€13,085€10,131€5,829€122▼ 97.9%
Cash at bank and in hand54/58€64,040€78,576€122,166€571,244€127,876€71,293€36,487▼ 48.8%
Deferred charges and accrued income490/1----€77€467€835▲ 78.9%
Equity and liabilities
Total equity and liabilities10/49€204,277€180,769€316,658€671,400€384,368€207,457€62,155▼ 70.0%
Equity10/15-€354,664-€352,928-€173,263€356,237€114,607-€323,188-€391,138▼ 21.0%
Contributions10/11€40,000--€504,711€504,711€504,711€504,711=
Reserves13€4,371€4,371€4,371€4,371€4,371€4,371€4,371=
Non-distributable reserves130/1---€0----
Reserves not available under the articles1311---€0----
Distributable reserves133---€4,371€4,371€4,371€4,371=
Profit (loss) carried forward14-€399,036-€397,300-€217,635-€152,845-€394,475-€832,270-€900,220▼ 8.2%
Amounts payable17/49€558,941€533,698€489,921€315,163€269,761€530,645€453,293▼ 14.6%
Amounts payable after more than one year17€409,404€364,788€300,916€27,724€7,006€248,898€192,238▼ 22.8%
Financial debts170/4---€27,724€7,006€248,898€192,238▼ 22.8%
Amounts payable within one year42/48€149,537€168,910€189,005€287,439€262,755€281,746€261,055▼ 7.3%
Current portion of amounts payable after more than one year42---€38,192€20,719€38,796€63,571▲ 63.9%
Financial debts43---€50,000€50,000€50,000€125,000▲ 150%
Credit institutions430/8---€50,000€50,000€50,000€125,000▲ 150%
Trade debts44€90,508€101,351€99,135€179,237€128,250€169,874€59,161▼ 65.2%
Suppliers440/4---€179,237€128,250€169,874€59,161▼ 65.2%
Taxes, remuneration and social security45---€19,345€52,707€19,996€11,993▼ 40.0%
Taxes450/3---€13,591€17,469€7,094€3,316▼ 53.3%
Remuneration and social security454/9---€5,754€35,238€12,902€8,676▼ 32.8%
Other amounts payable47/48---€665€11,080€3,080€1,331▼ 56.8%
Line2019202020212022202320242025Change
Profit (loss) for the period9904-€119,998€1,736€179,665€64,789-€241,630-€437,794-€67,951▲ 84.5%
+ Depreciation and write-downs630€72,633€32,549€2,452€1,475€1,766€2,223€2,097▼ 5.7%
Operating cash flow (approximation)-€47,365€34,284€182,117€66,264-€239,864-€435,572-€65,854▲ 84.9%
Investment in fixed assets (approximation)--€25,548-€3,475-€5,555€0-€6,710€1,077-
Change in cash-€14,536€43,590€449,078-€443,369-€56,583-€34,805▲ 38.5%

A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.

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Latest 10 of 13 filings with the National Bank
Financial year Type Filed Reference Document
30-06-2025 micro format 19-12-2025 2025-00585303 PDF
30-06-2024 micro format 13-01-2025 2025-00003715 PDF
30-06-2023 micro format 21-12-2023 2023-00533640 PDF
30-06-2022 micro format 23-12-2022 2022-20544801 PDF
30-06-2021 micro format 21-12-2021 2021-80800441 PDF
30-06-2020 micro format 14-01-2021 2021-01000364 PDF
30-06-2019 micro format 20-12-2019 2019-76600600 PDF
30-06-2018 micro format 21-01-2019 2019-02300416 PDF
30-06-2017 micro format 24-01-2018 2018-02100215 PDF
30-06-2016 abbreviated format 22-12-2016 2016-71400347 PDF

Show all 13 filings