Financials
Financial year 2025
Independent Works from Aalst, company number BE0541750443, closed financial year 2025 with a result of € 544 after tax. For that financial year Independent Works recorded a gross margin of € 4,227 and equity of € 3,090. Compared with financial year 2024, the result moved from € -21,508 to € 544. Profitable, and profit is growing. The buffer is growing. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on August 18, 2026.
€ 3,090
▲ 21% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ 544
▲ still € 21,508 loss in 2024
Profit after tax over the fiscal year.
€ 4,630
▼ 9% 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 € -11,210.
People and assets in 2025
≈ 1
No payroll staff. One director, so that person most likely runs the business.
Debts at end 2025
€ 14,055
▼ 34% vs 2024
€ 7,577 is repaid this year. At this pace the long-term loan is gone in ≈ 2 years.
€ 3,788
▼ 40% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 842
▼ 90% vs 2024
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 | € 17,988 | € 13,926 | € 15,677 | € 4,227 | ▼ 73% |
| Profit after taxes | € 7,566 | € 4,001 | € -21,508 | € 544 | ▲ € 22,053 |
| Equity | € 22,553 | € 26,554 | € 2,545 | € 3,090 | ▲ 21% |
| Total debts | € 48,002 | € 37,276 | € 35,872 | € 18,685 | ▼ 48% |
| Cash | € 10,932 | € 13,680 | € 5,062 | € 4,630 | ▼ 9% |
| Retained profit | € 8,253 | € 12,254 | € -11,755 | € -11,210 | ▲ € 544 |
| Dividend | € 0 | € 0 | € 2,500 | € 0 | ▼ 100% |
| Bank debt | € 41,682 | € 28,589 | € 21,424 | € 14,055 | ▼ 34% |
| Balance sheet total | € 70,555 | € 63,830 | € 38,418 | € 21,775 | ▼ 43% |
Key figures of Independent Works, fiscal years 2022 to 2025, from the annual accounts filed with the National Bank of Belgium.Next annual account (fiscal year 2026) expected before 31 July 2027.
What happened to Independent Works?
What happened at Independent Works in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- New annual accounts for financial year 2025: profit of € 544. filed late Source: NBB ↗
- New establishment in Aalst. KBO
- Joris Capiau became a director. NBB
- Start of the company according to the CBE. KBO
In short
From € 7,566 profit in 2022 to € 544 profit in 2025.
Paid € 9,591 in corporate taxes since 2022.
Best year ever: 2022, with € 7,566 profit.
Paid out € 2,500 in dividends to the owners in total.
Management
Behind Independent Works is Joris Capiau. It owns 16.7% of More Than Group itself.
Directors
According to the 2025 annual accounts
since 2013
Establishments
Establishment units
Physical locations of this company
Naarstigheidstraat 50
9300 Aalst
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0541.750.443
- VAT number
- BE 0541.750.443
- Registered office
- Naarstigheidstraat 50, 9300 Aalst
- Names & denominations
- Independent Works
- Enterprise type
- Rechtspersoon
- Legal form
- Private limited company
- Legal situation
- Normale toestand
- Start date
- 8 November 2013
- Peppol
- Active · Active since 18 Dec 2025
- Activities · NACE
Schrijnwerk