2XTREME
ActiveFinancials · financial year 2025, abbreviated format
2025 annual accounts filed 46 days after the deadline Filed on 15 June 2026, deadline 30 April 2026 (7 months after the close on 30 September 2025, Companies Code art. 3:10). Source: NBB, 2026-00174281.
Annual accounts 2025 filed on 15-06-2026 at the NBB all 20 filings
Turnover
≈ €570,000
Estimated: probably between €390,000 and €1.1m
Total assets
€834,970▲ 7.5%
2024 · €776,647
Net result
€69,607▼ 17.3%
2024 · €84,144
Working capital
€146,530▲ 72.6%
2024 · €84,882
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€90,104
▼ 23.6%
2025
20192025
Net result
€69,607
▼ 17.3%
2025
middle half of the sector
20192025
Equity
€272,164
▲ 34.4%
2025
middle half of the sector
20192025
Total assets
€834,970
▲ 7.5%
2025
middle half of the sector
20192025
Debt
€562,806
▼ 2.0%
2025
20192025
Working capital
€146,530
▲ 72.6%
2025
middle half of the sector
20192025
Solvency
32.6%
▲ 6.5pp
2025
middle half of the sector
20192025
Current ratio
1.81
▲ 0.28
2025
middle half of the sector
20192025
Return on assets (ROA)
8.3%
▼ 2.5pp
2025
middle half of the sector
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result€22,871-€29,307▲ 28.1%€1,445▼ 95.1%€102,898▲ 71×€51,631▼ 49.8%€117,941▲ 128%€90,104▼ 23.6%
Net result€14,066-€17,176within the sector's middle half▲ 22.1%-€8,489below the sector's middle half€70,364above the sector's middle half€28,107within the sector's middle half▼ 60.1%€84,144within the sector's middle half▲ 199%€69,607within the sector's middle half▼ 17.3%
Equity€11,255-€28,431within the sector's middle half▲ 153%€19,942within the sector's middle half▼ 29.9%€90,306within the sector's middle half▲ 353%€118,413within the sector's middle half▲ 31.1%€202,557within the sector's middle half▲ 71.1%€272,164within the sector's middle half▲ 34.4%
Total assets€163,522-€226,822within the sector's middle half▲ 38.7%€722,621above the sector's middle half▲ 219%€722,461above the sector's middle half=€718,780within the sector's middle half▼ 0.5%€776,647within the sector's middle half▲ 8.1%€834,970within the sector's middle half▲ 7.5%
Debt€152,267-€198,391▲ 30.3%€702,679▲ 254%€632,155▼ 10.0%€600,367▼ 5.0%€574,090▼ 4.4%€562,806▼ 2.0%
Working capital€2,925-€17,800within the sector's middle half▲ 508%-€63,874below the sector's middle half-€6,038within the sector's middle half▲ 90.5%€21,860within the sector's middle half€84,882within the sector's middle half▲ 288%€146,530within the sector's middle half▲ 72.6%
Solvency6.9%-12.5%within the sector's middle half▲ 5.7pp2.8%below the sector's middle half▼ 9.8pp12.5%within the sector's middle half▲ 9.7pp16.5%below the sector's middle half▲ 4.0pp26.1%within the sector's middle half▲ 9.6pp32.6%within the sector's middle half▲ 6.5pp
Current ratio1.02-1.09within the sector's middle half▲ 0.070.68below the sector's middle half▼ 0.410.97within the sector's middle half▲ 0.281.13within the sector's middle half▲ 0.161.53within the sector's middle half▲ 0.411.81within the sector's middle half▲ 0.28
Return on assets (ROA)8.6%-7.6%within the sector's middle half▼ 1.0pp-1.2%within the sector's middle half▼ 8.7pp9.7%within the sector's middle half▲ 10.9pp3.9%within the sector's middle half▼ 5.8pp10.8%within the sector's middle half▲ 6.9pp8.3%within the sector's middle half▼ 2.5pp
above
within
below
The sector band is the middle half of the companies in Retail trade (NACE 47). 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 24% lower than in 2024.
Turnover and EBIT margin are not published. The abbreviated or 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 €834,970
Fixed assets
€507,931 ▼ 4.7%
Current assets
€327,040 ▲ 34.1%
Equity and liabilities €834,970
Equity
€272,164 ▲ 34.4%
Debt
€562,806 ▼ 2.0%
Debt's share of the balance-sheet total falls from 73.9% to 67.4%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€115,029▼
2024 · €140,903
Cash flow
€94,532▼
2024 · €107,106
Quick ratio
0.07▼
2024 · 0.16
Debt to equity
2.07▼
2024 · 2.83
ROE
25.6%▼
2024 · 41.5%
Interest coverage
13.81▼
2024 · 14.48
Debt ≤ 1 year
€180,510▲
2024 · €158,909
Debt > 1 year
€378,937▼
2024 · €402,897
Income taxes
€18,976▼
2024 · €24,105
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Securities and guarantees
| Item | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|
| Mortgages, amount registered | €110,000 | €110,000 | €110,000 | €110,000 |
| Mortgage mandates | €541,280 | €541,280 | €541,280 | €541,280 |
| Carrying value of the mortgaged assets | €526,614 | €514,267 | €498,723 | €483,180 |
Source: notes to the 2022 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 30-09-2022 | 30-09-2023 | 30-09-2024 | 30-09-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €6,199 | - | €31,762 | - |
| Depreciation and write-downs of the year | €44,037 | €22,676 | €22,963 | €24,925 |
Source: notes to the 2022 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | - | €4,525 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €5,871 | €4,137 | €46,748 | €44,037 | €22,676 | €22,963 | €24,925 | ▲ 8.5% |
| Other operating charges640/8 | - | - | - | €4,500 | €5,522 | €5,246 | €7,433 | ▲ 41.7% |
| Gross operating margin9900 | €30,066 | €34,254 | €53,118 | €151,436 | €79,829 | €146,149 | €122,462 | ▼ 16.2% |
| Operating profit (loss)9901 | €22,871 | €29,307 | €1,445 | €102,898 | €51,631 | €117,941 | €90,104 | ▼ 23.6% |
| Financial income75/76B | - | - | - | €0 | €43 | €42 | €6,810 | ▲ 164× |
| Recurring financial income75 | €0 | €0 | €2 | €0 | €43 | €42 | €245 | ▲ 491% |
| Non-recurring financial income76B | - | - | - | - | - | - | €6,565 | - |
| Financial charges65/66B | - | - | - | €10,526 | €11,377 | €9,734 | €8,331 | ▼ 14.4% |
| Recurring financial charges65 | €788 | €1,629 | €9,720 | €10,526 | €10,167 | €9,734 | €8,331 | ▼ 14.4% |
| Non-recurring financial charges66B | - | - | - | - | €1,210 | - | - | - |
| Profit (loss) for the period before taxes9903 | €22,083 | €27,678 | -€8,273 | €92,373 | €40,296 | €108,249 | €88,583 | ▼ 18.2% |
| Income taxes67/77 | €8,017 | €10,502 | €216 | €22,008 | €12,190 | €24,105 | €18,976 | ▼ 21.3% |
| Profit (loss) for the period9904 | €14,066 | €17,176 | -€8,489 | €70,364 | €28,107 | €84,144 | €69,607 | ▼ 17.3% |
| Profit (loss) for the period to be appropriated9905 | €14,066 | €17,176 | -€8,489 | €70,364 | €28,107 | €84,144 | €69,607 | ▼ 17.3% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €163,522 | €226,822 | €722,621 | €722,461 | €718,780 | €776,647 | €834,970 | ▲ 7.5% |
| Fixed assets21/28 | €23,443 | €21,306 | €584,570 | €546,732 | €524,057 | €532,856 | €507,931 | ▼ 4.7% |
| Tangible fixed assets22/27 | €14,703 | €12,566 | €581,830 | €543,992 | €521,317 | €530,116 | €505,191 | ▼ 4.7% |
| Land and buildings22 | - | - | - | €529,810 | €514,267 | €498,723 | €483,180 | ▼ 3.1% |
| Plant, machinery and equipment23 | - | - | - | €10,653 | €7,050 | €31,392 | €22,011 | ▼ 29.9% |
| Furniture and vehicles24 | - | - | - | €3,529 | - | - | - | - |
| Financial fixed assets28 | €8,740 | €8,740 | €2,740 | €2,740 | €2,740 | €2,740 | €2,740 | = |
| Current assets29/58 | €140,079 | €205,516 | €138,051 | €175,729 | €194,723 | €243,791 | €327,040 | ▲ 34.1% |
| Stocks and contracts in progress3 | €125,584 | €124,462 | €119,737 | €158,103 | €188,800 | €218,904 | €314,200 | ▲ 43.5% |
| Stocks30/36 | - | - | - | €158,103 | €188,800 | €218,904 | €314,200 | ▲ 43.5% |
| Amounts receivable within one year40/41 | €8,758 | €31,041 | €5,891 | €1,341 | €1,391 | €9,810 | €1,080 | ▼ 89.0% |
| Trade receivables40 | - | - | - | €1,110 | - | €9,231 | - | - |
| Other amounts receivable41 | - | - | - | €231 | €1,391 | €579 | €1,080 | ▲ 86.4% |
| Cash at bank and in hand54/58 | €654 | €1,835 | €10,710 | €15,377 | €2,968 | €13,512 | €10,870 | ▼ 19.6% |
| Deferred charges and accrued income490/1 | - | - | - | €908 | €1,564 | €1,564 | €890 | ▼ 43.1% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €163,522 | €226,822 | €722,621 | €722,461 | €718,780 | €776,647 | €834,970 | ▲ 7.5% |
| Equity10/15 | €11,255 | €28,431 | €19,942 | €90,306 | €118,413 | €202,557 | €272,164 | ▲ 34.4% |
| Contributions10/11 | €18,600 | - | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €1,860 | €11,691 | €11,691 | €71,706 | €99,813 | €183,957 | €253,564 | ▲ 37.8% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | - | - | - | €69,846 | €97,953 | €182,097 | €251,704 | ▲ 38.2% |
| Profit (loss) carried forward14 | -€9,205 | -€1,860 | -€10,349 | - | - | - | - | - |
| Amounts payable17/49 | €152,267 | €198,391 | €702,679 | €632,155 | €600,367 | €574,090 | €562,806 | ▼ 2.0% |
| Amounts payable after more than one year17 | €12,640 | €8,117 | €476,033 | €449,684 | €426,477 | €402,897 | €378,937 | ▼ 5.9% |
| Financial debts170/4 | - | - | - | €449,684 | €426,477 | €402,897 | €378,937 | ▼ 5.9% |
| Amounts payable within one year42/48 | €137,154 | €187,715 | €201,924 | €181,767 | €172,863 | €158,909 | €180,510 | ▲ 13.6% |
| Current portion of amounts payable after more than one year42 | - | - | - | €26,349 | €23,207 | €23,581 | €25,940 | ▲ 10.0% |
| Financial debts43 | - | - | - | €4,136 | €2,065 | - | €24,741 | - |
| Credit institutions430/8 | - | - | - | €4,136 | €2,065 | - | €24,741 | - |
| Trade debts44 | €9,302 | €15,247 | €40,255 | €40,138 | €10,761 | €9,097 | €17,701 | ▲ 94.6% |
| Suppliers440/4 | - | - | - | €40,138 | €10,761 | €9,097 | €17,701 | ▲ 94.6% |
| Taxes, remuneration and social security45 | - | - | - | €24,008 | €12,085 | €10,319 | €4,593 | ▼ 55.5% |
| Taxes450/3 | - | - | - | €22,008 | €10,413 | €6,340 | €4,593 | ▼ 27.6% |
| Remuneration and social security454/9 | - | - | - | €2,000 | €1,672 | €3,979 | - | - |
| Other amounts payable47/48 | - | - | - | €87,134 | €124,744 | €115,912 | €107,535 | ▼ 7.2% |
| Accrued charges and deferred income492/3 | - | - | - | €704 | €1,026 | €12,284 | €3,360 | ▼ 72.6% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €14,066 | €17,176 | -€8,489 | €70,364 | €28,107 | €84,144 | €69,607 | ▼ 17.3% |
| + Depreciation and write-downs630 | €5,871 | €4,137 | €46,748 | €44,037 | €22,676 | €22,963 | €24,925 | ▲ 8.5% |
| Operating cash flow (approximation) | €19,937 | €21,313 | €38,259 | €114,401 | €50,782 | €107,106 | €94,532 | ▼ 11.7% |
| Investment in fixed assets (approximation) | - | -€2,000 | -€610,012 | -€6,199 | €0 | -€31,762 | €0 | - |
| Change in cash | - | €1,181 | €8,875 | €4,667 | -€12,409 | €10,545 | -€2,643 | - |
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, 20,136 companies had the same profile as 2XTREME has now. Two years later, 95.0% were still going and 0.2% had gone bankrupt.
- Small
- 20 years or older
- solvency 30% or more
- a profit of 5% of the balance sheet or more
95.0%
was still going
4.7%
stopped otherwise
0.2%
went bankrupt
That fits the bankruptcy probability of 2XTREME itself: 0.4% 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 20,136 companies, not a prediction for 2XTREME. 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 |
|---|---|---|---|---|
| 30-09-2025 | abbreviated format | 15-06-2026 | 2026-00174281 | |
| 30-09-2024 | abbreviated format | 02-04-2025 | 2025-00064003 | |
| 30-09-2023 | abbreviated format | 27-05-2024 | 2024-00103736 | |
| 30-09-2022 | micro format | 11-08-2023 | 2023-00327522 | |
| 30-09-2021 | micro format | 24-03-2022 | 2022-08500532 | |
| 30-09-2020 | micro format | 08-03-2021 | 2021-07100466 | |
| 30-09-2019 | micro format | 02-04-2020 | 2020-08700067 | |
| 30-09-2018 | micro format | 15-05-2019 | 2019-13800270 | |
| 30-09-2017 | micro format | 17-04-2018 | 2018-10100284 | |
| 30-09-2016 | abbreviated format | 29-03-2017 | 2017-07900110 |