12-Mb
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 30-06-2026 at the NBB all 6 filings
2021 to 2025, 5 financial years 2020 to 2025, 6 financial years
The operating result for 2025 is 12% higher than in 2024 and the highest since 2021. It is the fourth rise in a row.
Turnover is what the company sold, the result is what was left of it. A loss stands below the zero line.
Assets, equity and debt per financial year.
Above zero, the company can pay its short-term debts with what it holds in the short term.
Use the arrow keys on the chart for the figures per year.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €497 | €80,050 | - | - |
| Depreciation and write-downs of the year | €6,247 | €4,888 | €10,100 | €16,312 | €16,171 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €6,000 | - | - | - |
| Remuneration, social security and pensions62 | - | €1,850 | €1,850 | €1,850 | €1,850 | €1,830 | ▼ 1.1% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €10,913 | €6,247 | €4,888 | €10,100 | €16,312 | €16,171 | ▼ 0.9% |
| Other operating charges640/8 | - | €1,288 | €1,687 | €6,875 | €2,095 | €2,173 | ▲ 3.7% |
| Gross operating margin9900 | €72,059 | €94,062 | €148,002 | €189,842 | €206,266 | €228,327 | ▲ 10.7% |
| Operating profit (loss)9901 | €56,277 | €84,678 | €139,577 | €171,018 | €186,009 | €208,154 | ▲ 11.9% |
| Recurring financial income75 | €2 | - | - | - | - | - | - |
| Financial charges65/66B | - | €48 | €170 | €184 | €180 | €200 | ▲ 11.2% |
| Recurring financial charges65 | €10 | €48 | €170 | €184 | €180 | €200 | ▲ 11.2% |
| Profit (loss) for the period before taxes9903 | €56,269 | €84,630 | €139,407 | €170,833 | €185,829 | €207,954 | ▲ 11.9% |
| Income taxes67/77 | €16,932 | €24,229 | €41,344 | €38,290 | €42,653 | €48,179 | ▲ 13.0% |
| Profit (loss) for the period9904 | €39,337 | €60,401 | €98,063 | €132,543 | €143,176 | €159,775 | ▲ 11.6% |
| Profit (loss) for the period to be appropriated9905 | €39,337 | €60,401 | €98,063 | €132,543 | €143,176 | €159,775 | ▲ 11.6% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €76,188 | €111,089 | €209,391 | €331,917 | €365,733 | €360,850 | ▼ 1.3% |
| Fixed assets21/28 | €11,184 | €4,937 | €546 | €70,496 | €54,184 | €38,013 | ▼ 29.8% |
| Tangible fixed assets22/27 | €11,184 | €4,937 | €546 | €70,496 | €54,184 | €38,013 | ▼ 29.8% |
| Furniture and vehicles24 | - | €4,937 | €546 | €70,496 | €54,184 | €38,013 | ▼ 29.8% |
| Current assets29/58 | €65,004 | €106,152 | €208,845 | €261,421 | €311,550 | €322,837 | ▲ 3.6% |
| Amounts receivable within one year40/41 | - | - | €3,656 | €9,366 | €12,057 | €4,168 | ▼ 65.4% |
| Trade receivables40 | - | - | €3,000 | - | - | - | - |
| Other amounts receivable41 | - | - | €656 | €9,366 | €12,057 | €4,168 | ▼ 65.4% |
| Cash at bank and in hand54/58 | €10,306 | €37,825 | €121,943 | €165,224 | €189,218 | €211,085 | ▲ 11.6% |
| Deferred charges and accrued income490/1 | - | €68,327 | €83,246 | €86,831 | €110,275 | €107,584 | ▼ 2.4% |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €76,188 | €111,089 | €209,391 | €331,917 | €365,733 | €360,850 | ▼ 1.3% |
| Equity10/15 | €41,337 | €101,738 | €199,801 | €199,801 | €199,801 | €199,801 | = |
| Contributions10/11 | - | €2,000 | €2,000 | €2,000 | €2,000 | €2,000 | = |
| Reserves13 | €39,337 | €99,738 | €197,801 | €197,801 | €197,801 | €197,801 | = |
| Distributable reserves133 | - | €99,738 | €197,801 | €197,801 | €197,801 | €197,801 | = |
| Amounts payable17/49 | €34,851 | €9,351 | €9,590 | €132,116 | €165,933 | €161,049 | ▼ 2.9% |
| Amounts payable within one year42/48 | €34,851 | €9,351 | €9,590 | €132,116 | €144,213 | €161,049 | ▲ 11.7% |
| Trade debts44 | - | - | €35 | - | - | - | - |
| Suppliers440/4 | - | - | €35 | - | - | - | - |
| Taxes, remuneration and social security45 | - | €9,229 | €9,229 | - | €1,100 | €1,100 | = |
| Taxes450/3 | - | €9,229 | €9,229 | - | €1,100 | €1,100 | = |
| Other amounts payable47/48 | - | €122 | €326 | €132,116 | €143,113 | €159,949 | ▲ 11.8% |
| Accrued charges and deferred income492/3 | - | - | - | - | €21,720 | - | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €39,337 | €60,401 | €98,063 | €132,543 | €143,176 | €159,775 | ▲ 11.6% |
| + Depreciation and write-downs630 | €10,913 | €6,247 | €4,888 | €10,100 | €16,312 | €16,171 | ▼ 0.9% |
| Operating cash flow (approximation) | €50,250 | €66,648 | €102,951 | €142,643 | €159,489 | €175,946 | ▲ 10.3% |
| Investment in fixed assets (approximation) | - | €0 | -€497 | -€80,050 | €0 | €0 | - |
| Change in cash | - | €27,519 | €84,118 | €43,281 | €23,994 | €21,867 | ▼ 8.9% |
A Belgian filing has no cash-flow statement. These rows are therefore an approximation, derived from the income statement and the balance-sheet moves.
Historical observation
In July 2024, 26,972 companies had the same profile as 12-Mb has now. Two years later, 1.6% had gone bankrupt and 94.9% were still going.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
Another 0.1% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of 12-Mb itself is lower: 0.1% within 12 months. It rests on far more data about 12-Mb than the profile alone.
Test of the method
The method was tested on the 497,446 companies of July 2024. Each company was given the bankruptcy share of the same profile a year earlier, in July 2023. The expectation was that 1.6% would go bankrupt within 24 months. In fact 1.7% went bankrupt.
| Group | Expected | Actual |
|---|---|---|
| 1 | 0.2% | 0.2% |
| 2 | 0.3% | 0.5% |
| 3 | 0.5% | 0.6% |
| 4 | 0.7% | 0.8% |
| 5 | 0.9% | 0.9% |
| 6 | 1.3% | 1.5% |
| 7 | 1.6% | 1.8% |
| 8 | 1.8% | 1.8% |
| 9 | 3.0% | 3.1% |
| 10 | 5.6% | 6.2% |
A company that went bankrupt had a higher expected share than one that kept going in 74.5% of comparisons. The level depends on the economy. In a year with more bankruptcies than the year before, the actual share is higher than the expected one.
This is an observation about 26,972 companies, not a prediction for 12-Mb. The sector does not count, because the KBO no longer lists a sector for a company that has stopped. By sector, mostly the survivors would count, which would paint too rosy a picture.
Filings with the National Bank (6)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 30-06-2026 | 2026-00265011 | |
| 31-12-2024 | micro format | 31-07-2025 | 2025-00356999 | |
| 31-12-2023 | micro format | 29-08-2024 | 2024-00445252 | |
| 31-12-2022 | micro format | 30-06-2023 | 2023-00181321 | |
| 31-12-2021 | micro format | 30-07-2022 | 2022-20268277 | |
| 31-12-2020 | micro format | 30-06-2021 | 2021-27600163 |