2printit
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 08-07-2026 at the NBB all 20 filings
Turnover
≈ €410,000
Estimated: probably between €270,000 and €630,000
Total assets
€223,588▲ 3.3%
2024 · €216,493
Net result
€17,728▼ 58.3%
2024 · €42,504
Working capital
-€89,201▲ 15.0%
2024 · -€104,949
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€31,340
▼ 45.1%
2025
20182025
Net result
€17,728
▼ 58.3%
2025
middle half of the sector
20182025
Equity
-€46,642
▲ 27.5%
2025
lowest quarter of the sector
20182025
Total assets
€223,588
▲ 3.3%
2025
middle half of the sector
20182025
Debt
€270,230
▼ 3.8%
2025
20182025
Working capital
-€89,201
▲ 15.0%
2025
lowest quarter of the sector
20182025
Solvency
-20.9%
▲ 8.9pp
2025
lowest quarter of the sector
20182025
Current ratio
0.37
=
2025
lowest quarter of the sector
20182025
Return on assets (ROA)
7.9%
▼ 11.7pp
2025
middle half of the sector
20182025
Staff (FTE)
4.2
=
2025
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result€45,724-€24,172▼ 47.1%-€31,024-€21,108▲ 32.0%-€5,820▲ 72.4%€10,562€57,119▲ 441%€31,340▼ 45.1%
Net result€29,605-€9,596▼ 67.6%-€44,467below the sector's middle half-€36,104below the sector's middle half▲ 18.8%-€17,154below the sector's middle half▲ 52.5%-€35within the sector's middle half▲ 99.8%€42,504above the sector's middle half€17,728within the sector's middle half▼ 58.3%
Equity-€18,710--€9,114▲ 51.3%-€53,581below the sector's middle half▼ 488%-€89,685below the sector's middle half▼ 67.4%-€106,839below the sector's middle half▼ 19.1%-€106,874below the sector's middle half=-€64,369below the sector's middle half▲ 39.8%-€46,642below the sector's middle half▲ 27.5%
Total assets€391,742-€360,769▼ 7.9%€287,608within the sector's middle half▼ 20.3%€242,769within the sector's middle half▼ 15.6%€198,686within the sector's middle half▼ 18.2%€230,187within the sector's middle half▲ 15.9%€216,493within the sector's middle half▼ 5.9%€223,588within the sector's middle half▲ 3.3%
Debt€410,452-€369,883▼ 9.9%€341,189▼ 7.8%€332,453▼ 2.6%€305,525▼ 8.1%€337,061▲ 10.3%€280,863▼ 16.7%€270,230▼ 3.8%
Working capital-€25,807--€17,394▲ 32.6%-€38,824below the sector's middle half▼ 123%-€72,403below the sector's middle half▼ 86.5%-€83,916below the sector's middle half▼ 15.9%-€158,045below the sector's middle half▼ 88.3%-€104,949below the sector's middle half▲ 33.6%-€89,201below the sector's middle half▲ 15.0%
Solvency-4.8%--2.5%▲ 2.2pp-18.6%below the sector's middle half▼ 16.1pp-36.9%below the sector's middle half▼ 18.3pp-53.8%below the sector's middle half▼ 16.8pp-46.4%below the sector's middle half▲ 7.3pp-29.7%below the sector's middle half▲ 16.7pp-20.9%below the sector's middle half▲ 8.9pp
Current ratio0.74-0.81▲ 0.060.56below the sector's middle half▼ 0.250.34below the sector's middle half▼ 0.220.35below the sector's middle half▲ 0.010.19below the sector's middle half▼ 0.160.37below the sector's middle half▲ 0.180.37below the sector's middle half=
Return on assets (ROA)7.6%-2.7%▼ 4.9pp-15.5%below the sector's middle half▼ 18.1pp-14.9%below the sector's middle half▲ 0.6pp-8.6%below the sector's middle half▲ 6.2pp0.0%within the sector's middle half▲ 8.6pp19.6%above the sector's middle half▲ 19.6pp7.9%within the sector's middle half▼ 11.7pp
Staff (FTE)4.5-5.5▲ 22.2%5.6above the sector's middle half▲ 1.8%5.1▼ 8.9%5.2▲ 2.0%5▼ 3.8%4.2▼ 16.0%4.2=
above
within
below
The sector band is the middle half of the companies in Printing and reproduction of recorded media (NACE 18). 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 45% lower than in 2024.
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 €223,588
Fixed assets
€170,174 ▲ 10.7%
Current assets
€53,415 ▼ 14.8%
Equity and liabilities
Equity-€46,642
Debt€270,230
Equity is negative. Debt (€270,230) exceeds the balance-sheet total (€223,588).
Key figures and ratios
EBITDA
€69,643▼
2024 · €99,367
Cash flow
€56,031▼
2024 · €84,753
Quick ratio
0.35▲
2024 · 0.34
Interest coverage
5.93▼
2024 · 7.61
Debt ≤ 1 year
€142,616▼
2024 · €167,658
Debt > 1 year
€127,614▲
2024 · €113,205
Income taxes
€2,462▲
2024 · €1,368
Staff costs
€92,499▲
2024 · €89,190
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2021 | 31-12-2022 | 31-12-2023 | 31-12-2024 | 31-12-2025 |
|---|---|---|---|---|---|
| Employees at the balance-sheet date | 6 | 6 | 5 | 4 | 5 |
| full-time | 5 | 5 | 4 | 4 | 4 |
| part-time | 1 | 1 | 1 | - | 1 |
| in full-time equivalents | 5.1 | 5.1 | 4.1 | 4 | 4.6 |
| Average over the year, in full-time equivalents | 5.1 | 5.2 | 5 | 4.2 | 4.2 |
| On a permanent contract | 5 | 5 | 4 | 4 | 5 |
| Joined | 1 | - | 1 | - | 1 |
| Left | 0 | - | 2 | - | 0 |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €51,306 | €3,402 | €83,152 | €4,027 | €76,929 |
| Depreciation and write-downs of the year | €56,400 | €55,210 | €43,400 | €42,248 | €38,303 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | €146 | €6 | €16 | €15 | €2,072 | ▲ 140× |
| Remuneration, social security and pensions62 | - | - | - | €66,419 | €80,980 | €103,184 | €89,190 | €92,499 | ▲ 3.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €63,579 | €59,344 | €52,635 | €56,400 | €55,210 | €43,400 | €42,248 | €38,303 | ▼ 9.3% |
| Other operating charges640/8 | - | - | - | €1,624 | €606 | €548 | €494 | €944 | ▲ 91.2% |
| Non-recurring operating charges66A | - | - | - | - | €1,500 | - | €372 | - | - |
| Gross operating margin9900 | €207,587 | €208,043 | €95,365 | €103,335 | €132,477 | €157,694 | €189,423 | €163,086 | ▼ 13.9% |
| Operating profit (loss)9901 | €45,724 | €24,172 | -€31,024 | -€21,108 | -€5,820 | €10,562 | €57,119 | €31,340 | ▼ 45.1% |
| Financial income75/76B | - | - | - | €48 | €55 | - | - | €592 | - |
| Recurring financial income75 | €0 | €48 | - | €48 | €55 | - | - | €592 | - |
| Financial charges65/66B | - | - | - | €11,424 | €9,752 | €9,036 | €13,247 | €11,742 | ▼ 11.4% |
| Recurring financial charges65 | €15,658 | €12,376 | €12,386 | €11,413 | €9,752 | €9,028 | €13,060 | €11,736 | ▼ 10.1% |
| Non-recurring financial charges66B | - | - | - | €11 | €0 | €7 | €187 | €6 | ▼ 96.8% |
| Profit (loss) for the period before taxes9903 | €30,016 | €11,454 | -€43,427 | -€32,483 | -€15,517 | €1,526 | €43,872 | €20,190 | ▼ 54.0% |
| Income taxes67/77 | €411 | €1,858 | €1,039 | €3,620 | €1,637 | €1,561 | €1,368 | €2,462 | ▲ 80.0% |
| Profit (loss) for the period9904 | €29,605 | €9,596 | -€44,467 | -€36,104 | -€17,154 | -€35 | €42,504 | €17,728 | ▼ 58.3% |
| Profit (loss) for the period to be appropriated9905 | €29,605 | €9,596 | -€44,467 | -€36,104 | -€17,154 | -€35 | €42,504 | €17,728 | ▼ 58.3% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €391,742 | €360,769 | €287,608 | €242,769 | €198,686 | €230,187 | €216,493 | €223,588 | ▲ 3.3% |
| Fixed assets21/28 | €317,280 | €288,838 | €238,852 | €205,271 | €153,462 | €193,213 | €153,785 | €170,174 | ▲ 10.7% |
| Tangible fixed assets22/27 | €316,952 | €288,509 | €238,524 | €204,943 | €153,134 | €192,885 | €153,456 | €169,846 | ▲ 10.7% |
| Land and buildings22 | - | - | - | €161,410 | €127,472 | €184,702 | €147,663 | €118,862 | ▼ 19.5% |
| Plant, machinery and equipment23 | - | - | - | €21,626 | €14,980 | €7,639 | €5,793 | €50,984 | ▲ 780% |
| Leasing and similar rights25 | - | - | - | €21,907 | €10,682 | €544 | - | - | - |
| Financial fixed assets28 | €328 | €328 | €328 | €328 | €328 | €328 | €328 | €328 | = |
| Current assets29/58 | €74,462 | €71,932 | €48,757 | €37,498 | €45,224 | €36,973 | €62,709 | €53,415 | ▼ 14.8% |
| Stocks and contracts in progress3 | €7,300 | €7,100 | €7,050 | €6,700 | €6,550 | €6,700 | €6,450 | €3,316 | ▼ 48.6% |
| Stocks30/36 | - | - | - | €6,700 | €6,550 | €6,700 | €6,450 | €3,316 | ▼ 48.6% |
| Amounts receivable within one year40/41 | €38,512 | €34,211 | €17,271 | €18,328 | €19,456 | €20,267 | €45,880 | €20,625 | ▼ 55.0% |
| Trade receivables40 | - | - | - | €18,328 | €19,456 | €20,267 | €32,367 | €15,796 | ▼ 51.2% |
| Other amounts receivable41 | - | - | - | - | - | - | €13,512 | €4,828 | ▼ 64.3% |
| Cash at bank and in hand54/58 | €19,920 | €12,906 | €14,524 | €5,862 | €15,966 | €8,773 | €10,379 | €29,474 | ▲ 184% |
| Deferred charges and accrued income490/1 | - | - | - | €6,608 | €3,252 | €1,234 | - | - | - |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €391,742 | €360,769 | €287,608 | €242,769 | €198,686 | €230,187 | €216,493 | €223,588 | ▲ 3.3% |
| Equity10/15 | -€18,710 | -€9,114 | -€53,581 | -€89,685 | -€106,839 | -€106,874 | -€64,369 | -€46,642 | ▲ 27.5% |
| Contributions10/11 | €20,000 | €20,000 | - | €20,000 | €20,000 | €20,000 | €20,000 | €20,000 | = |
| Reserves13 | €4,232 | €4,232 | €4,232 | €4,232 | €4,232 | €4,232 | €4,232 | €4,232 | = |
| Non-distributable reserves130/1 | - | - | - | €2,000 | €2,000 | - | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €2,000 | €2,000 | - | - | - | - |
| Distributable reserves133 | - | - | - | €2,232 | €2,232 | €4,232 | €4,232 | €4,232 | = |
| Profit (loss) carried forward14 | -€42,942 | -€33,346 | -€77,813 | -€113,916 | -€131,070 | -€131,106 | -€88,601 | -€70,874 | ▲ 20.0% |
| Amounts payable17/49 | €410,452 | €369,883 | €341,189 | €332,453 | €305,525 | €337,061 | €280,863 | €270,230 | ▼ 3.8% |
| Amounts payable after more than one year17 | €310,184 | €280,558 | €253,609 | €222,553 | €176,384 | €142,042 | €113,205 | €127,614 | ▲ 12.7% |
| Financial debts170/4 | - | - | - | €222,553 | €176,384 | €142,042 | €113,205 | €127,614 | ▲ 12.7% |
| Amounts payable within one year42/48 | €100,268 | €89,325 | €87,581 | €109,901 | €129,141 | €195,019 | €167,658 | €142,616 | ▼ 14.9% |
| Current portion of amounts payable after more than one year42 | - | - | - | €58,284 | €52,708 | €39,442 | €29,553 | €39,436 | ▲ 33.4% |
| Trade debts44 | €35,554 | €35,710 | €23,967 | €13,709 | €52,716 | €56,169 | €41,503 | €29,566 | ▼ 28.8% |
| Suppliers440/4 | - | - | - | €13,709 | €52,716 | €56,169 | €41,503 | €29,566 | ▼ 28.8% |
| Taxes, remuneration and social security45 | - | - | - | €17,424 | €15,284 | €29,980 | €25,396 | €21,876 | ▼ 13.9% |
| Taxes450/3 | - | - | - | €10,557 | €6,795 | €17,221 | €12,608 | €10,058 | ▼ 20.2% |
| Remuneration and social security454/9 | - | - | - | €6,867 | €8,489 | €12,759 | €12,787 | €11,818 | ▼ 7.6% |
| Other amounts payable47/48 | - | - | - | €20,483 | €8,434 | €69,428 | €71,206 | €51,738 | ▼ 27.3% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €29,605 | €9,596 | -€44,467 | -€36,104 | -€17,154 | -€35 | €42,504 | €17,728 | ▼ 58.3% |
| + Depreciation and write-downs630 | €63,579 | €59,344 | €52,635 | €56,400 | €55,210 | €43,400 | €42,248 | €38,303 | ▼ 9.3% |
| Operating cash flow (approximation) | €93,184 | €68,940 | €8,169 | €20,296 | €38,056 | €43,365 | €84,753 | €56,031 | ▼ 33.9% |
| Investment in fixed assets (approximation) | - | -€30,902 | -€2,650 | -€22,819 | -€3,402 | -€83,152 | -€2,819 | -€54,693 | ▼ 1,840% |
| Change in cash | - | -€7,014 | €1,619 | -€8,662 | €10,104 | -€7,193 | €1,606 | €19,095 | ▲ 12× |
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, 3,794 companies had the same profile as 2printit has now. Two years later, 91.5% were still going and 2.7% had gone bankrupt.
- Micro
- 20 years or older
- negative equity
- a profit of 5% of the balance sheet or more
91.5%
was still going
5.3%
stopped otherwise
2.7%
went bankrupt
Another 0.6% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of 2printit itself: 0.6% 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 3,794 companies, not a prediction for 2printit. 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 20 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 08-07-2026 | 2026-00268537 | |
| 31-12-2024 | micro format | 03-07-2025 | 2025-00232764 | |
| 31-12-2023 | micro format | 08-07-2024 | 2024-00222950 | |
| 31-12-2022 | micro format | 10-07-2023 | 2023-00220093 | |
| 31-12-2021 | micro format | 11-07-2022 | 2022-20171217 | |
| 31-12-2020 | micro format | 15-07-2021 | 2021-36200199 | |
| 31-12-2019 | micro format | 13-07-2020 | 2020-29500031 | |
| 31-12-2018 | micro format | 16-07-2019 | 2019-33700008 | |
| 31-12-2017 | micro format | 16-07-2018 | 2018-33700212 | |
| 31-12-2016 | micro format | 02-07-2017 | 2017-26200199 |