Warning lights
Signals from the annual accounts, the CBE and the Official Gazette, each with its threshold and source. No score, no verdict.
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Two loss years in a row NBB
Negative result in 2024 and 2025.
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Shrinking team NBB
FTE fell two years in a row, from 23.4 to 19.7.
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Busy address KBO
45 other companies have their registered office at the same address; threshold 10.
Financials
Financial year 2025
MICROSTART from Brussel, company number BE0829081071, closed financial year 2025 with a result of € -1.8 million after tax. For that financial year MICROSTART recorded revenue of € 1.3 million and equity of € 38,625. Compared with financial year 2024, the result moved from € -833,045 to € -1.8 million. The company made a loss. The buffer shrank hard: equity is 98 % below last year. High debts against a small own buffer. The most recent annual accounts were filed with the National Bank of Belgium on June 5, 2026.
€ 38,625
▼ 98% vs 2024
Assets minus debts, by the books. What is left if everything were sold and paid today.
€ -1.8 million
▼ 122 % more loss than in 2024
Profit after tax over the fiscal year.
€ 3.7 million
▼ 27% vs 2024
Cash and bank balances on the last day of the fiscal year.
Loss, nothing to pay out
Reserves fell to € -1.8 million.
People and assets in 2025
19.7
▼ 2.2 vs 2024
Average over the fiscal year, from the social balance sheet.
€ 1.5 million
▼ 8% vs 2024
€ 76,700 per full-time equivalent. Payroll staff only. What the director pays themselves is already netted into the gross margin and is not shown separately in the accounts.
€ 7,800
▼ 45% vs 2024
Book value of vehicles, furniture and equipment.
Debts at end 2025
€ 14 million
▲ 1% vs 2024
€ 4.5 million is repaid this year. At this pace the long-term loan is gone in ≈ 3 years.
€ 161,679
▲ 12% vs 2024
Supplier invoices still open on the last day of the fiscal year.
€ 170,522
▼ 20% vs 2024
Wages, holiday pay and social contributions still to pay. No outstanding taxes.
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| 2022 | 2023 | 2024 | 2025 | Change 2024 → 2025 | |
|---|---|---|---|---|---|
| Revenue | € 1,221,234 | € 1,231,952 | € 1,284,378 | € 1,308,581 | ▲ 2% |
| Gross margin | € 1,473,368 | € 2,241,019 | € 2,207,492 | € 1,851,535 | ▼ 16% |
| Profit after taxes | € -1,078,466 | € -1,260,845 | € -833,045 | € -1,849,595 | ▼ € 1 million |
| Equity | € 1,892,528 | € 1,748,083 | € 1,888,220 | € 38,625 | ▼ 98% |
| Total debts | € 14,662,072 | € 14,338,213 | € 14,217,937 | € 14,367,581 | ▲ 1% |
| Cash | € 3,967,467 | € 4,256,069 | € 4,987,186 | € 3,662,095 | ▼ 27% |
| Retained profit | € -9,773,472 | € -11,034,317 | € -2,093,890 | € -1,849,875 | ▲ € 244,015 |
| Bank debt | € 14,199,032 | € 13,900,431 | € 13,788,576 | € 13,955,555 | ▲ 1% |
| Balance sheet total | € 16,554,600 | € 16,086,296 | € 16,106,157 | € 14,406,206 | ▼ 11% |
| Employees (FTE) | 19.5 | 23.4 | 21.9 | 19.7 | ▼ 2.2 |
Key figures of MICROSTART, 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 MICROSTART?
What happened at MICROSTART in recent years, according to the Belgian Official Gazette, the CBE and the National Bank:
- ADIE stepped down as director. NBB
- AG Insurance stepped down as director. NBB
- PARTENA ASI stepped down as director. NBB
- BNP Paribas Fortis SA stepped down as director. NBB
- MICROSTART SUPPORT ASBL stepped down as director. NBB
- Carine De Nys stepped down as director. NBB
- New annual accounts for financial year 2025: loss of € 1.8 million. Source: NBB ↗
- Louis De Cannière stepped down as director. NBB
In short
From € 1.1 million loss in 2022 to € 1.8 million loss in 2025.
On average € 94,000 of value added per employee in 2025.
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De Lijn 8 June 2026 New annual account 2025
filed on 8 June 2026
What was left
€ 20 k ▼ 91%
Money in the bank
€ 178 k ▼ 98%
Open the dossier →
NMBS 8 June 2026 New annual account 2025 What was left ▼ 80%
bpost 18 May 2026 New annual account 2025 What was left from loss to profit
Management
The shares are held by AG Insurance (44%), BNP Paribas Fortis SA (44%), PARTENA ASI (11.8%) and ADIE (0.3%).
Directors
According to the 2025 annual accounts
ADIE
Director · represented by Laure COUSSIRAT-COUSTERE
since 2023 · until 2028
Director · represented by Jan Heyvaert
Also active at: BROCOM SERVICES, DATASSUR, INSUROPE, VERENIGING VOOR DE BESTRIJDING VAN VERZEKERINGSFRAUDE, TRIP
since 2022 · until 2028
Director · represented by Bruno DEBUYSSCHER
Also active at: Royale Association générale des Classes moyennes de Belgique, A.C.M., PARTENA
since 2024 · until 2028
Director · represented by Anne-France Simon, Els Van Zele
Also active at: United Brands Association, Uitwisselingscentrum en verrekening, BEDRIJVENCENTRUM WAASLAND, BEDRIJVENCENTRUM DE PUNT, NAMUR INVEST, MAISON DE L'ENTREPRISE, Centre Européen d'Entreprise et d'Innovation (CEEI), imec.istart Fund, ONDERNEMERSCENTRUM RONSE
since 2023 · until 2028
Louis De Cannière
Director
since 2023 · until 2026
Director · represented by Guido BUSSENIERS
Also active at: Starterslabo Oost-Vlaanderen
since 2024 · until 2028
Patrick SOMERHAUSEN
Director
since 2023 · until 2026
Carine De Nys
Chairman of the board
since 2022 · until 2028
Shareholders
Participations
No participations in other companies reported.
Establishments
Establishment units
Physical locations of this company
Kantersteen 12
1000 Brussel
Luitenant Naeyaertplein 25
2140 Antwerpen
Active since 3 November 2011
Avenue Général Michel 1E
6000 Charleroi
Active since 15 February 2011
Rue de l'Académie 53
4000 Liège
Active since 15 January 2013
Rooigemlaan 532
9000 Gent
Active since 1 April 2013
Who else lives here?
A building full of entrepreneurs or one very busy letterbox? Another 45 companies are registered at this address.
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+40 more
What is an establishment unit? An establishment unit is a geographically identifiable place where activities of the enterprise are carried out.
Details
- Company number
- 0829.081.071
- VAT number
- BE 0829.081.071
- Registered office
- Kantersteen 12, 1000 Brussel
- Names & denominations
- MICROSTART
- Enterprise type
- Rechtspersoon
- Legal form
- Cooperative company
- Legal situation
- Normale toestand
- Start date
- 8 September 2010
- Peppol
- Active · Active since 27 Mar 2026
- Activities · NACE
Overige financiële dienstverlening, neg