Zerocopy
Open bankruptcyFinancials · financial year 2025, micro format
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 stays negative: a loss of €47,492 in 2025 against €425,003 in 2024; the loss shrinks.
What the company sold each financial year and what was left of it. A loss stands below the zero line.
Operating result-€47,492
2025
Net result-€67,951
2025
What the company owns (total assets), how much of it is its own (equity) and how much it owes.
Total assets€62,155
2025
Equity-€391,138
2025
Debt€453,293
2025
Short-term assets minus short-term debts. Above zero the company can pay its bills in the short term.
Working capital-€205,973
2025
How much of each euro of turnover is left from operations (EBIT margin) and what the assets earn (return on assets).
Return on assets (ROA)-109.3%
2025
The share of the company financed with its own means. The higher it is, the better it absorbs a shock.
Solvency-629.3%
2025
Short-term assets per euro of short-term debt. Above 1 the short-term debts are covered.
Current ratio0.21
2025
Average staff in full-time equivalents (FTE).
Staff (FTE)2.1
2025
Use the arrow keys on the chart for the figures per year.
Sector: the middle half of NACE 73, Advertising, market research and public relations activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30. Dashed line: the median. Available for Net result, Equity, Total assets, Working capital, Solvency, Current ratio, Return on assets (ROA), 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 middle half of NACE 73, Advertising, market research and public relations activities: a quarter of companies sit below it, a quarter above. Each year compared with accounts in the same format, and only where there are at least 30.
Turnover and EBIT margin 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
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
No debt to equity: equity is negative, so debt divided by equity means nothing.
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| 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% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| 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% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| 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% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Latest 10 of 13 filings with the National Bank
| Financial year | Type | Filed | Reference |
|---|---|---|---|
| 30-06-2025 | micro format | 19-12-2025 | 2025-00585303 |
| 30-06-2024 | micro format | 13-01-2025 | 2025-00003715 |
| 30-06-2023 | micro format | 21-12-2023 | 2023-00533640 |
| 30-06-2022 | micro format | 23-12-2022 | 2022-20544801 |
| 30-06-2021 | micro format | 21-12-2021 | 2021-80800441 |
| 30-06-2020 | micro format | 14-01-2021 | 2021-01000364 |
| 30-06-2019 | micro format | 20-12-2019 | 2019-76600600 |
| 30-06-2018 | micro format | 21-01-2019 | 2019-02300416 |
| 30-06-2017 | micro format | 24-01-2018 | 2018-02100215 |
| 30-06-2016 | abbreviated format | 22-12-2016 | 2016-71400347 |
Similar companies · same sector and region
Alternatives théâtrales, Association pour la Diffusion des Pratiques artistiques contemporaines
BE 0420.058.203
Brussel
AMADEUS
BE 0447.831.578
Brussel
Amethix Technologies
BE 0450.027.045
Brussel
ASK LOCALA
BE 0718.919.359
Brussel
Association des Commerçants du Centre commercial City 2 - Vereniging van Handelaren van het Handelscentrum City 2
BE 0418.787.206
Brussel
This company's figures show no positive equity and no headcount, so a size comparison is not possible. These companies share only the sector and the region. Of the 9,796 active companies whose main activity is advertising agencies (NACE 73110), figures are known for 3,861. See the whole sector
Subsidies and aid
Flemish government
2022 to 2024 · 3 entries · €15,910 awarded · €14,681 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2024 | 1 | €3,780 | €5,191 |
| 2023 | 1 | €6,025 | €9,490 |
| 2022 | 1 | €6,105 | €0 |
Public contracts: No European public contracts awarded found since October 2016. Contracts below the EU thresholds are not in TED.