Financials
Financial year 2025
UNDERLINED from Gent, company number BE0538856180, closed financial year 2025 with a result of € 112,426 after tax. For that financial year UNDERLINED recorded a gross margin of € 200,465 and equity of € 531,758. Compared with financial year 2024, the result moved from € 157,163 to € 112,426. The company is profitable. The buffer is growing. A strong own buffer against the debts. The most recent annual accounts were filed with the National Bank of Belgium on January 29, 2026.
€ 531,758
▲ 27% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 112,426
▼ 28% vs 2024
Profit after tax over the fiscal year.
€ 136,658
▼ 6% vs 2024
Cash and bank balances on the last day of the fiscal year.
Stays in the company
No dividend for 2025. Retained profit grew to € 513,158.
People and assets in 2025
€ 26,684
▼ 26% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 222,583
▼ 8% vs 2024
€ 20,438 is repaid this year. At this pace the long-term loan is gone in ≈ 11 years.
€ 5,920
▼ 54% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 2,582
Corporate tax and VAT still to pay. No wage debt: nothing outstanding to staff or social security.
| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Gross margin | € 197,040 | € 233,284 | € 259,125 | € 200,465 | ▼ 23% |
| Profit after taxes | € 125,549 | € 155,148 | € 157,163 | € 112,426 | ▼ 28% |
| Equity | € 237,020 | € 362,168 | € 419,332 | € 531,758 | ▲ 27% |
| Total debts | € 299,818 | € 299,635 | € 356,659 | € 231,482 | ▼ 35% |
| Cash | € 72,967 | € 230,345 | € 145,174 | € 136,658 | ▼ 6% |
| Land & buildings | € 420,549 | € 399,940 | € 536,349 | € 531,512 | ▼ 1% |
| Retained profit | € 218,420 | € 343,568 | € 400,732 | € 513,158 | ▲ 28% |
| Dividend | € 90,000 | € 30,000 | € 100,000 | € 0 | ▼ 100% |
| Bank debt | € 293,242 | € 262,774 | € 242,794 | € 222,583 | ▼ 8% |
| Balance sheet total | € 536,838 | € 661,803 | € 775,991 | € 763,240 | ▼ 2% |
Key figures of UNDERLINED, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 30 January 2027.
What happened to UNDERLINED?
What happened at UNDERLINED in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 112,426 (▼ 28% vs 2024). Source: NBB ↗
- Rosaline Fiems became a director. NBB
- New establishment in Gent. KBO
- New establishment in Gent. KBO
- Start of the company according to the CBE. KBO
- Michiel Vancoillie became a director. NBB
In short
From € 125,549 profit in 2022 to € 112,426 profit in 2025.
Paid € 157,405 in corporate taxes since 2022.
Best year ever: 2024, with € 157,163 profit.
Paid out € 220,000 in dividends to the owners in total.
Management
Behind UNDERLINED are Michiel Vancoillie and Rosaline Fiems.
Directors
According to the 2025 annual accounts
Michiel Vancoillie
Director
since 2013
Rosaline Fiems
Director
since 2024
Establishments
Establishment units
Physical locations of this company
Nekkersvijverstraat 137
9040 Gent
Zuidstationstraat 40
9000 Gent
Active since 1 March 2016
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0538.856.180
- VAT number
- BE 0538.856.180
- Registered office
- Nekkersvijverstraat 137, 9040 Gent
- Names & denominations
- UNDERLINED
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 23 September 2013
- Peppol
- Active · Active since 16 Dec 2025
- Activities · NACE
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