SUBMENTUM
InactiveInactive; last annual accounts for fiscal year 2025. Dissolved without liquidation on 01-01-2026.
Signals
Two signals. The signal on the left, the evidence on the right.
+raises risk○neutral
raises risk · Negative equity
The 2025 annual accounts show negative equity and a net loss.
NBB · annual accounts 2025Equity per financial year
1819202122232425
2018 to 2025 · latest year €-71k
neutral · Latest accounts filed on time
The financial year that closed on 31-12-2025 was due by 31-07-2026 and was filed on 07-07-2026, 24 days ahead of the deadline.
NBB · 10 filingsDeviation from the deadline
2025
24 d early
2024
28 d late
2023
30 d late
2022
31 d late
2021
121 d late
2020
61 d late
2019
31 d late
← before the deadline
after the deadline →
Checked, nothing found (2)
neutral · The next deadline is still running
The next financial year closes on 31-12-2026 and is due by 31-07-2027. Nothing is late today.
Companies Code · seven monthsPosition in the running window
25-09-2026 today31-12-2026 close31-07-2027 deadline
Financials · fiscal year 2025, abbreviated schema
Equity
€-71k▼ 17.8%
2024 · €-60k
2018: €82k
2019: €111k▲ +36.7% vs 2018
2020: €162k▲ +45.5% vs 2019
2021: €173k▲ +6.9% vs 2020
2022: €193k▲ +11.2% vs 2021highest in 8 years
2023: €98k▼ -49.2% vs 2022
2024: €-60k▼ -161% vs 2023
2025: €-71k▼ -17.8% vs 2024lowest in 8 years
2018 → 2025
Total assets
€2.16M▼ 34.0%
2024 · €3.27M
2018: €190klowest in 8 years
2019: €295k▲ +54.8% vs 2018
2020: €1.23M▲ +319% vs 2019
2021: €1.53M▲ +23.8% vs 2020
2022: €1.91M▲ +25.1% vs 2021
2023: €2.17M▲ +13.6% vs 2022
2024: €3.27M▲ +50.5% vs 2023highest in 8 years
2025: €2.16M▼ -34.0% vs 2024
2018 → 2025
Net result
€-11k▲ 93.2%
2024 · €-158k
2018: €43k
2019: €30k▼ -30.6% vs 2018
2020: €50k▲ +67.8% vs 2019highest in 8 years
2021: €11k▼ -77.7% vs 2020
2022: €19k▲ +72.4% vs 2021
2023: €-95k▼ -591% vs 2022
2024: €-158k▼ -66.4% vs 2023lowest in 8 years
2025: €-11k▲ +93.2% vs 2024
2018 → 2025
Working capital
€-1.19M▼ 28.5%
2024 · €-928k
2018: €48k
2019: €59k▲ +22.4% vs 2018highest in 8 years
2020: €-388k▼ -755% vs 2019
2021: €-350k▲ +9.9% vs 2020
2022: €-571k▼ -63.3% vs 2021
2023: €-764k▼ -33.7% vs 2022
2024: €-928k▼ -21.5% vs 2023
2025: €-1.19M▼ -28.5% vs 2024lowest in 8 years
2018 → 2025
Trend over the years
Multi-year overview
Every figure with its change against the year before
▲ rise
▼ fall
Line20212022202320242025Trend
Equity€173k-€193k▲ 11.2%€98k▼ 49.2%€-60k€-71k▼ 17.8%
2021: €173k
2022: €193k▲ +11.2% vs 2021highest in 5 years
2023: €98k▼ -49.2% vs 2022
2024: €-60k▼ -161% vs 2023
2025: €-71k▼ -17.8% vs 2024lowest in 5 years
Operating result€33k-€41k▲ 24.5%€-69k€-133k▼ 92.0%€20k
2021: €33k
2022: €41k▲ +24.5% vs 2021highest in 5 years
2023: €-69k▼ -267% vs 2022
2024: €-133k▼ -92.0% vs 2023lowest in 5 years
2025: €20k▲ +115% vs 2024
Net result€11k-€19k▲ 72.4%€-95k€-158k▼ 66.4%€-11k▲ 93.2%
2021: €11k
2022: €19k▲ +72.4% vs 2021highest in 5 years
2023: €-95k▼ -591% vs 2022
2024: €-158k▼ -66.4% vs 2023lowest in 5 years
2025: €-11k▲ +93.2% vs 2024
Turnover and EBIT margin not published: the abbreviated or micro schema does not require them.
Result per fiscal year
Operating resultNet result
The operating result returns to profit in 2025: €20k after a loss of €133k in 2024.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €2.16M
Fixed assets
€1.19M ▲ 12.8%
Current assets
€969k ▼ 56.3%
Key figures and ratios
EBITDA
€101k▲
2024 · €-49k
Cash flow
€71k▲
2024 · €-74k
Solvency
-3.3%▼
2024 · -1.8%
Current ratio
0.45▼
2024 · 0.70
Quick ratio
0.43▲
2024 · 0.41
Debt to equity
-31.55▲
2024 · -55.53
ROA
-0.5%▲
2024 · -4.8%
Interest coverage
2.61▲
2024 · -1.91
Debt
€2.23M▼
2024 · €3.33M
Debt ≤ 1 year
€2.16M▼
2024 · €3.14M
Debt > 1 year
€49k▼
2024 · €99k
Income taxes
€736▲
2024 · €491
Staff costs
€621k▼
2024 · €661k
Green means a favourable move, even when the figure itself falls: as with debt or debt to equity.
Filed annual accounts As filed with the NBB · 2025 against 2024 · 53 lines
Balance sheet
Code20242025
Assets
Total assets20/58€3.27M€2.16M▼
Fixed assets21/28€1.05M€1.19M▲
Intangible fixed assets21€26k€75k▲
Tangible fixed assets22/27€207k€155k▼
Plant, machinery and equipment23€127k€95k▼
Furniture and vehicles24€80k€60k▼
Financial fixed assets28€821k€960k▲
Current assets29/58€2.22M€969k▼
Stocks and contracts in progress3€929k€40k▼
Stocks30/36€40k€40k=
Contracts in progress37€889k€0▼
Amounts receivable within one year40/41€981k€615k▼
Trade receivables40€899k€610k▼
Other amounts receivable41€82k€5k▼
Cash at bank and in hand54/58€300k€302k▲
Deferred charges and accrued income490/1€6k€11k▲
Equity and liabilities
Total equity and liabilities10/49€3.27M€2.16M▼
Equity10/15€-60k€-71k▼
Contributions10/11€12k€12k=
Reserves13€13k€13k=
Distributable reserves133€13k€13k=
Profit (loss) carried forward14€-85k€-96k▼
Amounts payable17/49€3.33M€2.23M▼
Amounts payable after more than one year17€99k€49k▼
Financial debts170/4€99k€49k▼
Amounts payable within one year42/48€3.14M€2.16M▼
Current portion of amounts payable after more than one year42€49k€50k▲
Financial debts43€200k€200k=
Credit institutions430/8€200k€200k=
Trade debts44€778k€855k▲
Suppliers440/4€778k€855k▲
Advances received on contracts in progress46€1.22M€112k▼
Taxes, remuneration and social security45€232k€80k▼
Taxes450/3€114k€7k▼
Remuneration and social security454/9€118k€73k▼
Other amounts payable47/48€663k€864k▲
Accrued charges and deferred income492/3€87k€18k▼
Income statement
Code20242025
Remuneration, social security and pensions62€661k€621k▼
Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630€83k€81k▼
Other operating charges640/8€1k€3k▲
Gross operating margin9900€612k€724k▲
Operating profit (loss)9901€-133k€20k▲
Financial income75/76B€1k€9k▲
Recurring financial income75€1k€9k▲
Financial charges65/66B€26k€39k▲
Recurring financial charges65€26k€39k▲
Profit (loss) for the period before taxes9903€-157k€-10k▲
Income taxes67/77€491€736▲
Profit (loss) for the period9904€-158k€-11k▲
Profit (loss) for the period to be appropriated9905€-158k€-11k▲
Appropriation of the result
Profit (loss) to be appropriated9906€-85k€-96k▼
Profit (loss) brought forward from the previous period14P€72k€-85k▼
Social balance
Average headcount (FTE)90878.27.4▼
The notes to these accounts (22 items: statements of assets and debts, cost breakdowns, rights and commitments) are not shown here.
Accounts by statement
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | €185k | €255k | €438k | €661k | €621k | ▼ 6.0% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €45k | €43k | €56k | €83k | €81k | ▼ 2.5% |
| Other operating charges640/8 | €5k | €2k | €2k | €1k | €3k | ▲ 106% |
| Non-recurring operating charges66A | €0 | - | - | - | - | - |
| Gross operating margin9900 | €268k | €341k | €427k | €612k | €724k | ▲ 18.3% |
| Operating profit (loss)9901 | €33k | €41k | €-69k | €-133k | €20k | ▲ 115% |
| Financial income75/76B | €1k | €889 | €775 | €1k | €9k | ▲ 715% |
| Recurring financial income75 | €1k | €889 | €775 | €1k | €9k | ▲ 715% |
| Financial charges65/66B | €17k | €26k | €25k | €26k | €39k | ▲ 50.4% |
| Recurring financial charges65 | €17k | €26k | €25k | €26k | €39k | ▲ 50.4% |
| Profit (loss) for the period before taxes9903 | €17k | €16k | €-93k | €-157k | €-10k | ▲ 93.7% |
| Income taxes67/77 | €6k | €-3k | €2k | €491 | €736 | ▲ 50.1% |
| Profit (loss) for the period9904 | €11k | €19k | €-95k | €-158k | €-11k | ▲ 93.2% |
| Profit (loss) for the period to be appropriated9905 | €11k | €19k | €-95k | €-158k | €-11k | ▲ 93.2% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €1.53M | €1.91M | €2.17M | €3.27M | €2.16M | ▼ 34.0% |
| Fixed assets21/28 | €729k | €985k | €1.07M | €1.05M | €1.19M | ▲ 12.8% |
| Intangible fixed assets21 | €1 | €3k | €18k | €26k | €75k | ▲ 184% |
| Tangible fixed assets22/27 | €96k | €162k | €233k | €207k | €155k | ▼ 25.3% |
| Plant, machinery and equipment23 | €72k | €146k | €170k | €127k | €95k | ▼ 25.8% |
| Furniture and vehicles24 | €24k | €16k | €64k | €80k | €60k | ▼ 24.5% |
| Financial fixed assets28 | €633k | €821k | €821k | €821k | €960k | ▲ 17.0% |
| Current assets29/58 | €799k | €926k | €1.10M | €2.22M | €969k | ▼ 56.3% |
| Stocks and contracts in progress3 | €129k | €187k | €389k | €929k | €40k | ▼ 95.7% |
| Stocks30/36 | €30k | €40k | €40k | €40k | €40k | = |
| Contracts in progress37 | €99k | €147k | €349k | €889k | €0 | ▼ 100% |
| Amounts receivable within one year40/41 | €622k | €547k | €470k | €981k | €615k | ▼ 37.3% |
| Trade receivables40 | €509k | €430k | €369k | €899k | €610k | ▼ 32.1% |
| Other amounts receivable41 | €114k | €117k | €101k | €82k | €5k | ▼ 94.0% |
| Cash at bank and in hand54/58 | €38k | €182k | €226k | €300k | €302k | ▲ 0.8% |
| Deferred charges and accrued income490/1 | €9k | €11k | €14k | €6k | €11k | ▲ 95.1% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €1.53M | €1.91M | €2.17M | €3.27M | €2.16M | ▼ 34.0% |
| Equity10/15 | €173k | €193k | €98k | €-60k | €-71k | ▼ 17.8% |
| Contributions10/11 | €12k | €12k | €12k | €12k | €12k | = |
| Reserves13 | €13k | €13k | €13k | €13k | €13k | = |
| Distributable reserves133 | €13k | €13k | €13k | €13k | €13k | = |
| Profit (loss) carried forward14 | €148k | €167k | €72k | €-85k | €-96k | ▼ 12.5% |
| Amounts payable17/49 | €1.36M | €1.72M | €2.07M | €3.33M | €2.23M | ▼ 33.1% |
| Amounts payable after more than one year17 | €169k | €118k | €121k | €99k | €49k | ▼ 50.4% |
| Financial debts170/4 | €169k | €118k | €121k | €99k | €49k | ▼ 50.4% |
| Amounts payable within one year42/48 | €1.15M | €1.50M | €1.86M | €3.14M | €2.16M | ▼ 31.3% |
| Current portion of amounts payable after more than one year42 | €36k | €38k | €44k | €49k | €50k | ▲ 1.9% |
| Financial debts43 | €212k | €200k | €200k | €200k | €200k | = |
| Credit institutions430/8 | €212k | €200k | €200k | €200k | €200k | = |
| Trade debts44 | €379k | €472k | €662k | €778k | €855k | ▲ 9.8% |
| Suppliers440/4 | €379k | €472k | €662k | €778k | €855k | ▲ 9.8% |
| Advances received on contracts in progress46 | - | €24k | €150k | €1.22M | €112k | ▼ 90.8% |
| Taxes, remuneration and social security45 | €56k | €93k | €142k | €232k | €80k | ▼ 65.3% |
| Taxes450/3 | €25k | €42k | €56k | €114k | €7k | ▼ 93.8% |
| Remuneration and social security454/9 | €31k | €51k | €86k | €118k | €73k | ▼ 37.8% |
| Other amounts payable47/48 | €466k | €670k | €665k | €663k | €864k | ▲ 30.3% |
| Accrued charges and deferred income492/3 | €37k | €103k | €90k | €87k | €18k | ▼ 78.9% |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €11k | €19k | €-95k | €-158k | €-11k | ▲ 93.2% |
| + Depreciation and write-downs630 | €45k | €43k | €56k | €83k | €81k | ▼ 2.5% |
| Operating cash flow (approximation) | €56k | €62k | €-38k | €-74k | €71k | ▲ 195% |
| Investment in fixed assets (approximation) | - | €-299k | €-143k | €-65k | €-217k | ▼ 234% |
| Change in cash | - | €144k | €44k | €74k | €2k | ▼ 96.7% |
Simplified and derived: a Belgian filing has no cash-flow statement, so these rows come from the income statement and the balance-sheet moves.
Timeline · acts, filings and financial milestones
Next filing, fiscal year 2026, expected by
2026
07-07
NBB filing
Annual accounts filed
fiscal year 2025 · abbreviated schema
10-02
State Gazette act
Capital & shares · RestructuringResignations: SUSTIMAX BV, VYTECH GROUP NV and SUBMENTUM · Appointment: VYTECH GROUP NV (director) · Permanent representatives: Bart Dhaene and Stijn Nauts17 facts ▸
State Gazette act
Capital & shares · Restructuring
Resignations: SUSTIMAX BV, VYTECH GROUP NV and SUBMENTUM · Appointment: VYTECH GROUP NV (director) · Permanent representatives: Bart Dhaene and Stijn Nauts17 facts ▸
- General meeting, 30-12-2025
- General meeting, 16-07-2025
- Director resignation, SUSTIMAX BV (director)
- Director appointment, VYTECH GROUP NV (director)
- Permanent representative, Bart Dhaene
- Mandate compensation, VYTECH GROUP NV
- Board composition, VYTECH GROUP NV (director)
- Board composition, VCP GP BV (director)
- Permanent representative, Stijn Nauts
- Merger, 01-01-2026
- Dissolution, 01-01-2026
- Share cancellation, VERMA ENGINEERING
- +5 further facts in this act
2025
28-08
NBB filing
Annual accounts filed
fiscal year 2024 · abbreviated schema · 28 days late
2024
31-12
Financial
Weakest financial yearnet €-158k
Net result drops to €-158k, the lowest in the series.
30-08
NBB filing
Annual accounts filed
fiscal year 2023 · abbreviated schema · 30 days late
2023
31-08
NBB filing
Annual accounts filed
fiscal year 2022 · abbreviated schema · 31 days late
2022
29-11
NBB filing
Annual accounts filed
fiscal year 2021 · abbreviated schema · 121 days late
2021
30-09
NBB filing
Annual accounts filed
fiscal year 2020 · abbreviated schema · 61 days late
2020
31-12
Financial
Highest result since 2018net €50k ▲67.8%
Operating result €83k, net result €50k, both a record.
31-12
Financial
Equity above €150kEq €162k ▲45.5%
3 profitable years in a row build equity to €162k.
31-08
NBB filing
Annual accounts filed
fiscal year 2019 · micro schema · 31 days late
2019
31-12
Financial
Equity above €100kEq €111k ▲36.7%
2 profitable years in a row build equity to €111k.
Show earlier events
26-09
NBB filing
Annual accounts filed
fiscal year 2018 · micro schema · 57 days late
2018
31-08
NBB filing
Annual accounts filed
fiscal year 2017 · micro schema · 31 days late
2017
31-08
NBB filing
Annual accounts filed
fiscal year 2016 · micro schema · 31 days late
Financial milestoneState Gazette actNBB filingFinancial milestones sit on the fiscal year-end date, not the filing date.
1 of 9 acts read
About the unread acts
Of the 9 Belgian State Gazette acts we know for this company, 1 has been read. The other 8 have not been read yet: what they contain is neither established nor disproved here.
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Directors · office · real estate
Directors
no sitting director, last change in 2026
We have established no sitting directors for this company. We derive directors from published Gazette acts; while there are none, or none read, nothing appears here. That does not mean the company has none: the CBE keeps its own list of function holders, which we do not read.
01-01-2026
VERMA ENGINEERING: Resigned as Director
01-01-2026
VYTECH GROUP: Reappointed as Director
09-07-2025
Sustimax: Resigned as Director
Not every act has been read: a resignation may be missing here
8 of this company's 9 Belgian State Gazette acts have not been read yet. Appointments and resignations recorded in them are missing above: a director who resigned there may therefore still show here as sitting. The acts are in the Timeline.
Location & real-estate footprint
Structure & network
Connections & network
1 connected companyLinked via shared directors
Shared corporate director
→
Acquisitions and mergers
1 transactionTook over:VERMA ENGINEERING
Public money · subsidies and aid
Flemish government
2022 to 2025 · 4 entries · 2,670 EUR awarded · 2,670 EUR paid| Year | Entries | awarded | paid |
|---|---|---|---|
| 2025 | 1 | 0 EUR | 214 EUR |
| 2024 | 1 | 214 EUR | 0 EUR |
| 2023 | 1 | 1,836 EUR | 1,836 EUR |
| 2022 | 1 | 620 EUR | 620 EUR |
Schemes
Subsidie voor opleiding en advies voor kmo's en zelfstandigen (kmo-portefeuille)