2 COMMUNICATE
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 14-07-2026 at the NBB all 21 filings
Turnover
≈ €35,000
Estimated: probably between €19,000 and €68,000
Total assets
€195,478▼ 11.5%
2024 · €220,933
Net result
-€4,904
2024 · €15,144
Working capital
€111,216▼ 12.0%
2024 · €126,394
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
-€3,714
2025
20192025
Net result
-€4,904
2025
lowest quarter of the sector
20192025
Equity
€91,570
▼ 5.1%
2025
middle half of the sector
20192025
Total assets
€195,478
▼ 11.5%
2025
middle half of the sector
20192025
Debt
€85,435
▼ 14.6%
2025
20192025
Working capital
€111,216
▼ 12.0%
2025
middle half of the sector
20192025
Solvency
46.8%
▲ 3.2pp
2025
middle half of the sector
20192025
Current ratio
2.85
▼ 0.12
2025
middle half of the sector
20192025
Return on assets (ROA)
-2.5%
▼ 9.4pp
2025
lowest quarter of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€37,731-€6,038▼ 84.0%€17,372▲ 188%-€312€28,597€20,836▼ 27.1%-€3,714
Net result€34,851--€9,138below the sector's middle half€14,174within the sector's middle half-€3,438below the sector's middle half€20,624within the sector's middle half€15,144within the sector's middle half▼ 26.6%-€4,904below the sector's middle half
Equity€59,108-€49,970within the sector's middle half▼ 15.5%€64,144within the sector's middle half▲ 28.4%€60,706within the sector's middle half▼ 5.4%€81,330within the sector's middle half▲ 34.0%€96,474within the sector's middle half▲ 18.6%€91,570within the sector's middle half▼ 5.1%
Total assets€155,664-€145,041within the sector's middle half▼ 6.8%€230,500within the sector's middle half▲ 58.9%€286,303above the sector's middle half▲ 24.2%€210,209within the sector's middle half▼ 26.6%€220,933within the sector's middle half▲ 5.1%€195,478within the sector's middle half▼ 11.5%
Debt€66,583-€65,099▼ 2.2%€136,383▲ 110%€195,624▲ 43.4%€98,906▼ 49.4%€99,987▲ 1.1%€85,435▼ 14.6%
Working capital€106,430-€88,898within the sector's middle half▼ 16.5%€118,434within the sector's middle half▲ 33.2%€132,053above the sector's middle half▲ 11.5%€124,573above the sector's middle half▼ 5.7%€126,394above the sector's middle half▲ 1.5%€111,216within the sector's middle half▼ 12.0%
Solvency38.0%-34.5%within the sector's middle half▼ 3.5pp27.8%below the sector's middle half▼ 6.6pp21.2%below the sector's middle half▼ 6.6pp38.7%within the sector's middle half▲ 17.5pp43.7%within the sector's middle half▲ 5.0pp46.8%within the sector's middle half▲ 3.2pp
Current ratio4.54-3.05within the sector's middle half▼ 1.493.20within the sector's middle half▲ 0.142.27within the sector's middle half▼ 0.933.62within the sector's middle half▲ 1.352.97within the sector's middle half▼ 0.652.85within the sector's middle half▼ 0.12
Return on assets (ROA)22.4%--6.3%below the sector's middle half▼ 28.7pp6.1%within the sector's middle half▲ 12.4pp-1.2%below the sector's middle half▼ 7.4pp9.8%within the sector's middle half▲ 11.0pp6.9%within the sector's middle half▼ 3.0pp-2.5%below the sector's middle half▼ 9.4pp
above
within
below
The sector band is the middle half of the companies in Computer programming, consultancy and related activities (NACE 62). A quarter of them sit below it, a quarter above. Each year counts only accounts in the same format, and only where there are at least 30.
The operating result for 2025 is a loss of €3,714, after a profit of €20,836 in 2024. It is the lowest result since 2021.
Turnover and EBIT margin are not published. The micro format does not require them. The turnover shown is an estimate from the gross margin.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €195,478
Fixed assets
€24,220 ▼ 20.2%
Current assets
€171,258 ▼ 10.1%
Equity and liabilities €195,478
Equity
€91,570 ▼ 5.1%
Provisions
€18,473 ▼ 24.5%
Debt
€85,435 ▼ 14.6%
Debt's share of the balance-sheet total falls from 45.3% to 43.7%. Equity and debt are lower.
Key figures and ratios
EBITDA
€3,634▼
2024 · €28,878
Cash flow
€2,444▼
2024 · €23,185
Debt to equity
0.93▼
2024 · 1.04
ROE
-5.4%▼
2024 · 15.7%
Interest coverage
1.34▼
2024 · 6.06
Debt ≤ 1 year
€60,042▼
2024 · €64,174
Debt > 1 year
€25,393▼
2024 · €35,813
Income taxes
€184▼
2024 · €7,600
Staff costs
€7,904▼
2024 · €9,398
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 30-06-2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Tangible fixed assets | - | - | €366 | €1,202 |
| Depreciation and write-downs of the year | €8,042 | €12,062 | €8,042 | €7,347 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2022 to 2025 · 3 entries · €6,000 awarded · €6,000 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €2,000 | €2,000 |
| 2024 | 1 | €2,000 | €2,000 |
| 2022 | 1 | €2,000 | €2,000 |
Schemes
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | €58,286 | €20,884 | €9,398 | €7,904 | ▼ 15.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €6,328 | €6,328 | €7,583 | €8,042 | €12,062 | €8,042 | €7,347 | ▼ 8.6% |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | - | - | - | - | -€5,500 | -€6,000 | ▼ 9.1% |
| Other operating charges640/8 | - | - | - | €1,040 | €1,145 | €1,272 | €995 | ▼ 21.7% |
| Gross operating margin9900 | €46,024 | €14,448 | €48,668 | €67,055 | €62,689 | €34,048 | €6,533 | ▼ 80.8% |
| Operating profit (loss)9901 | €37,731 | €6,038 | €17,372 | -€312 | €28,597 | €20,836 | -€3,714 | - |
| Financial income75/76B | - | - | - | - | - | €6,671 | €1,709 | ▼ 74.4% |
| Recurring financial income75 | €2 | €6 | €2 | - | - | €6,671 | €1,709 | ▼ 74.4% |
| Financial charges65/66B | - | - | - | €3,126 | €5,723 | €4,765 | €2,715 | ▼ 43.0% |
| Recurring financial charges65 | €2,889 | €2,028 | €3,200 | €3,126 | €5,723 | €4,765 | €2,715 | ▼ 43.0% |
| Profit (loss) for the period before taxes9903 | €34,845 | €4,016 | €14,175 | -€3,438 | €22,874 | €22,743 | -€4,720 | - |
| Income taxes67/77 | -€6 | €13,154 | €0 | - | €2,250 | €7,600 | €184 | ▼ 97.6% |
| Profit (loss) for the period9904 | €34,851 | -€9,138 | €14,174 | -€3,438 | €20,624 | €15,144 | -€4,904 | - |
| Profit (loss) for the period to be appropriated9905 | €34,851 | -€9,138 | €14,174 | -€3,438 | €20,624 | €15,144 | -€4,904 | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €155,664 | €145,041 | €230,500 | €286,303 | €210,209 | €220,933 | €195,478 | ▼ 11.5% |
| Fixed assets21/28 | €19,153 | €12,825 | €58,145 | €50,103 | €38,041 | €30,365 | €24,220 | ▼ 20.2% |
| Intangible fixed assets21 | €10,571 | €8,809 | €49,695 | €43,379 | €33,907 | €27,592 | €22,157 | ▼ 19.7% |
| Tangible fixed assets22/27 | €8,527 | €3,961 | €8,145 | €6,418 | €3,828 | €2,468 | €1,757 | ▼ 28.8% |
| Plant, machinery and equipment23 | - | - | - | €6,418 | €3,828 | €2,102 | €1,757 | ▼ 16.4% |
| Assets under construction and advance payments27 | - | - | - | - | - | €366 | - | - |
| Financial fixed assets28 | €56 | €56 | €306 | €306 | €306 | €306 | €306 | = |
| Current assets29/58 | €136,511 | €132,216 | €172,355 | €236,199 | €172,168 | €190,568 | €171,258 | ▼ 10.1% |
| Amounts receivable after more than one year29 | - | - | - | €120,000 | €108,000 | €108,000 | €96,000 | ▼ 11.1% |
| Other amounts receivable291 | - | - | - | €120,000 | €108,000 | €108,000 | €96,000 | ▼ 11.1% |
| Amounts receivable within one year40/41 | €56,885 | €41,560 | €22,250 | €97,679 | €57,867 | €69,815 | €61,518 | ▼ 11.9% |
| Trade receivables40 | - | - | - | €61,765 | €35,440 | €36,419 | €28,144 | ▼ 22.7% |
| Other amounts receivable41 | - | - | - | €35,914 | €22,428 | €33,395 | €33,374 | ▼ 0.1% |
| Current investments50/53 | €2 | €2 | €23,000 | €14,500 | - | - | - | - |
| Cash at bank and in hand54/58 | €4,276 | €15,654 | €7,105 | €4,020 | €5,742 | €9,757 | €11,787 | ▲ 20.8% |
| Deferred charges and accrued income490/1 | - | - | - | - | €559 | €2,996 | €1,953 | ▼ 34.8% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €155,664 | €145,041 | €230,500 | €286,303 | €210,209 | €220,933 | €195,478 | ▼ 11.5% |
| Equity10/15 | €59,108 | €49,970 | €64,144 | €60,706 | €81,330 | €96,474 | €91,570 | ▼ 5.1% |
| Contributions10/11 | €18,600 | €18,600 | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €16,360 | €16,360 | €16,360 | €16,360 | €16,360 | €31,360 | €31,360 | = |
| Non-distributable reserves130/1 | - | - | - | €1,860 | - | - | - | - |
| Other1319 | - | - | - | €1,860 | - | - | - | - |
| Tax-exempt reserves132 | - | - | - | €14,500 | €14,500 | €14,500 | €14,500 | = |
| Distributable reserves133 | - | - | - | - | €1,860 | €16,860 | €16,860 | = |
| Profit (loss) carried forward14 | €24,148 | €15,010 | €29,184 | €25,746 | €46,370 | €46,514 | €41,610 | ▼ 10.5% |
| Provisions and deferred taxes16 | €29,973 | €29,973 | €29,973 | €29,973 | €29,973 | €24,473 | €18,473 | ▼ 24.5% |
| Provisions for liabilities and charges160/5 | - | - | - | €29,973 | €29,973 | €24,473 | €18,473 | ▼ 24.5% |
| Pensions and similar obligations160 | - | - | - | €29,973 | €29,973 | €24,473 | €18,473 | ▼ 24.5% |
| Amounts payable17/49 | €66,583 | €65,099 | €136,383 | €195,624 | €98,906 | €99,987 | €85,435 | ▼ 14.6% |
| Amounts payable after more than one year17 | €33,947 | €20,698 | €76,834 | €90,395 | €51,311 | €35,813 | €25,393 | ▼ 29.1% |
| Financial debts170/4 | - | - | - | €90,395 | €51,311 | €35,813 | €25,393 | ▼ 29.1% |
| Amounts payable within one year42/48 | €30,081 | €43,318 | €53,922 | €104,146 | €47,595 | €64,174 | €60,042 | ▼ 6.4% |
| Current portion of amounts payable after more than one year42 | - | - | - | €11,339 | €20,361 | €16,581 | €10,420 | ▼ 37.2% |
| Financial debts43 | - | - | - | - | - | €2,800 | €1,976 | ▼ 29.4% |
| Credit institutions430/8 | - | - | - | - | - | €2,800 | €1,976 | ▼ 29.4% |
| Trade debts44 | €11,832 | €4,558 | €11,758 | €51,130 | €15,699 | €22,707 | €36,281 | ▲ 59.8% |
| Suppliers440/4 | - | - | - | €51,130 | €15,699 | €22,707 | €36,281 | ▲ 59.8% |
| Taxes, remuneration and social security45 | - | - | - | €26,678 | €11,534 | €18,086 | €11,365 | ▼ 37.2% |
| Taxes450/3 | - | - | - | €9,302 | €10,272 | €18,086 | €11,365 | ▼ 37.2% |
| Remuneration and social security454/9 | - | - | - | €17,376 | €1,263 | - | - | - |
| Other amounts payable47/48 | - | - | - | €15,000 | - | €4,000 | - | - |
| Accrued charges and deferred income492/3 | - | - | - | €1,082 | - | - | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €34,851 | -€9,138 | €14,174 | -€3,438 | €20,624 | €15,144 | -€4,904 | - |
| + Depreciation and write-downs630 | €6,328 | €6,328 | €7,583 | €8,042 | €12,062 | €8,042 | €7,347 | ▼ 8.6% |
| Operating cash flow (approximation) | €41,179 | -€2,810 | €21,757 | €4,603 | €32,687 | €23,185 | €2,444 | ▼ 89.5% |
| Investment in fixed assets (approximation) | - | €0 | -€52,902 | €0 | €0 | -€366 | -€1,202 | ▼ 228% |
| Change in cash | - | €11,378 | -€8,549 | -€3,085 | €1,722 | €4,015 | €2,030 | ▼ 49.5% |
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, 12,322 companies had the same profile as 2 COMMUNICATE has now. Two years later, 90.3% were still going and 0.7% had gone bankrupt.
- Micro
- 20 years or older
- solvency 30% or more
- a small loss
90.3%
was still going
8.6%
stopped otherwise
0.7%
went bankrupt
Another 0.5% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of 2 COMMUNICATE itself: 0.1% within 12 months.
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 12,322 companies, not a prediction for 2 COMMUNICATE. 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.
Latest 10 of 21 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 14-07-2026 | 2026-00313612 | |
| 31-12-2024 | micro format | 02-07-2025 | 2025-00221751 | |
| 31-12-2023 | micro format | 30-07-2024 | 2024-00319281 | |
| 30-06-2022 | micro format | 18-09-2023 | 2023-00447690 | |
| 30-06-2021 | micro format | 31-01-2022 | 2022-04000117 | |
| 30-06-2020 | micro format | 30-03-2021 | 2021-09600100 | |
| 30-06-2019 | micro format | 28-02-2020 | 2020-06100588 | |
| 30-06-2018 | micro format | 14-03-2019 | 2019-06900460 | |
| 30-06-2017 | micro format | 28-02-2018 | 2018-06300448 | |
| 30-06-2016 | abbreviated format | 15-06-2017 | 2017-17100522 |