3G
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 24-12-2025 PDF all 15 filings
Equity
€251,664▼ 67.9%
2024 · €783,113
Total assets
€883,767▲ 3.2%
2024 · €856,325
Net result
€13,435▼ 59.5%
2024 · €33,157
Working capital
€811,210▲ 3.6%
2024 · €783,113
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
-€6,333
2025
20192025
Net result
€13,435
▼ 59.5%
2025
middle half of the sector
20192025
Equity
€251,664
▼ 67.9%
2025
highest quarter of the sector
20192025
Total assets
€883,767
▲ 3.2%
2025
highest quarter of the sector
20192025
Debt
€632,103
▲ 763%
2025
20192025
Working capital
€811,210
▲ 3.6%
2025
highest quarter of the sector
20192025
Solvency
28.5%
▼ 63.0pp
2025
middle half of the sector
20192025
Current ratio
12.18
▲ 0.48
2025
highest quarter of the sector
20192025
Return on assets (ROA)
1.5%
▼ 2.4pp
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€67,729-€7,110▼ 89.5%€22,392▲ 215%-€11,696-€945▲ 91.9%€18,821-€6,333
Net result€52,306-€10,206within the sector's middle half▼ 80.5%€20,359within the sector's middle half▲ 99.5%€82below the sector's middle half▼ 99.6%€14,742within the sector's middle half▲ 181×€33,157within the sector's middle half▲ 125%€13,435within the sector's middle half▼ 59.5%
Equity€159,682-€169,888within the sector's middle half▲ 6.4%€190,248within the sector's middle half▲ 12.0%€190,330within the sector's middle half=€205,071within the sector's middle half▲ 7.7%€783,113above the sector's middle half▲ 282%€251,664above the sector's middle half▼ 67.9%
Total assets€503,004-€553,621above the sector's middle half▲ 10.1%€628,601above the sector's middle half▲ 13.5%€737,565above the sector's middle half▲ 17.3%€795,084above the sector's middle half▲ 7.8%€856,325above the sector's middle half▲ 7.7%€883,767above the sector's middle half▲ 3.2%
Debt€343,322-€383,732▲ 11.8%€438,353▲ 14.2%€547,236▲ 24.8%€590,013▲ 7.8%€73,212▼ 87.6%€632,103▲ 763%
Working capital€159,682-€169,888above the sector's middle half▲ 6.4%€190,248above the sector's middle half▲ 12.0%€190,330above the sector's middle half=€729,622above the sector's middle half▲ 283%€783,113above the sector's middle half▲ 7.3%€811,210above the sector's middle half▲ 3.6%
Solvency31.7%-30.7%within the sector's middle half▼ 1.1pp30.3%within the sector's middle half▼ 0.4pp25.8%below the sector's middle half▼ 4.5pp25.8%below the sector's middle half=91.5%above the sector's middle half▲ 65.7pp28.5%within the sector's middle half▼ 63.0pp
Current ratio1.47-1.44within the sector's middle half▼ 0.021.43within the sector's middle half▼ 0.011.35within the sector's middle half▼ 0.0912.15above the sector's middle half▲ 10.8011.70above the sector's middle half▼ 0.4512.18above the sector's middle half▲ 0.48
Return on assets (ROA)10.4%-1.8%within the sector's middle half▼ 8.6pp3.2%within the sector's middle half▲ 1.4pp0.0%below the sector's middle half▼ 3.2pp1.9%within the sector's middle half▲ 1.8pp3.9%within the sector's middle half▲ 2.0pp1.5%below the sector's middle half▼ 2.4pp
above
within
below
The sector band is the middle half of the companies in Activities of head offices; management consultancy activities (NACE 70). 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 €6,333, after a profit of €18,821 in 2024.
Turnover and EBIT margin are not published. The micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Equity and liabilities €883,767
Equity
€251,664 ▼ 67.9%
Debt
€632,103 ▲ 763%
Debt's share of the balance-sheet total rises from 8.5% to 71.5%. Equity is lower and debt is higher.
Key figures and ratios
Debt to equity
2.51▲
2024 · 0.09
ROE
5.3%▲
2024 · 4.2%
Debt ≤ 1 year
€72,557▼
2024 · €73,212
Debt > 1 year
€559,546
Income taxes
€5,598▼
2024 · €8,663
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Other operating charges640/8 | - | - | - | €348 | €174 | €384 | €587 | ▲ 52.8% |
| Gross operating margin9900 | €68,594 | €7,457 | €22,739 | -€11,348 | -€771 | €19,206 | -€5,746 | - |
| Operating profit (loss)9901 | €67,729 | €7,110 | €22,392 | -€11,696 | -€945 | €18,821 | -€6,333 | - |
| Financial income75/76B | - | - | - | €20,068 | €29,435 | €32,240 | €33,987 | ▲ 5.4% |
| Recurring financial income75 | €15,402 | €14,019 | €15,854 | €20,068 | €29,435 | €32,240 | €33,987 | ▲ 5.4% |
| Financial charges65/66B | - | - | - | €7,757 | €7,807 | €9,241 | €8,622 | ▼ 6.7% |
| Recurring financial charges65 | €5,612 | €5,091 | €7,244 | €7,757 | €7,807 | €9,241 | €8,622 | ▼ 6.7% |
| Profit (loss) for the period before taxes9903 | €77,519 | €16,038 | €31,002 | €615 | €20,682 | €41,820 | €19,033 | ▼ 54.5% |
| Income taxes67/77 | €25,213 | €5,832 | €10,643 | €533 | €5,941 | €8,663 | €5,598 | ▼ 35.4% |
| Profit (loss) for the period9904 | €52,306 | €10,206 | €20,359 | €82 | €14,742 | €33,157 | €13,435 | ▼ 59.5% |
| Profit (loss) for the period to be appropriated9905 | €52,306 | €10,206 | €20,359 | €82 | €14,742 | €33,157 | €13,435 | ▼ 59.5% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €503,004 | €553,621 | €628,601 | €737,565 | €795,084 | €856,325 | €883,767 | ▲ 3.2% |
| Current assets29/58 | €503,004 | €553,621 | €628,601 | €737,565 | €795,084 | €856,325 | €883,767 | ▲ 3.2% |
| Amounts receivable after more than one year29 | - | - | - | - | €791,257 | €851,510 | €880,163 | ▲ 3.4% |
| Other amounts receivable291 | - | - | - | - | €791,257 | €851,510 | €880,163 | ▲ 3.4% |
| Amounts receivable within one year40/41 | €463,817 | €500,670 | €556,194 | €736,680 | €2,469 | €3,674 | €3,478 | ▼ 5.3% |
| Trade receivables40 | - | - | - | €10,890 | - | - | - | - |
| Other amounts receivable41 | - | - | - | €725,790 | €2,469 | €3,674 | €3,478 | ▼ 5.3% |
| Cash at bank and in hand54/58 | €1,482 | €889 | €4,957 | €885 | €1,357 | €1,141 | €126 | ▼ 88.9% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €503,004 | €553,621 | €628,601 | €737,565 | €795,084 | €856,325 | €883,767 | ▲ 3.2% |
| Equity10/15 | €159,682 | €169,888 | €190,248 | €190,330 | €205,071 | €783,113 | €251,664 | ▼ 67.9% |
| Contributions10/11 | €6,200 | - | - | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €152,860 | €162,860 | €183,210 | €183,210 | €198,210 | €231,850 | €245,350 | ▲ 5.8% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | - | - | - |
| Other1319 | - | - | - | €1,860 | €1,860 | - | - | - |
| Distributable reserves133 | - | - | - | €181,350 | €196,350 | €231,850 | €245,350 | ▲ 5.8% |
| Profit (loss) carried forward14 | €622 | €828 | €838 | €920 | €661 | €178 | €114 | ▼ 36.4% |
| Investment grants15 | - | - | - | - | - | €544,884 | - | - |
| Amounts payable17/49 | €343,322 | €383,732 | €438,353 | €547,236 | €590,013 | €73,212 | €632,103 | ▲ 763% |
| Amounts payable after more than one year17 | - | - | - | - | €524,551 | - | €559,546 | - |
| Financial debts170/4 | - | - | - | - | €524,551 | - | €559,546 | - |
| Amounts payable within one year42/48 | €343,322 | €383,732 | €438,353 | €547,236 | €65,461 | €73,212 | €72,557 | ▼ 0.9% |
| Financial debts43 | - | - | - | €14 | - | - | - | - |
| Credit institutions430/8 | - | - | - | €14 | - | - | - | - |
| Trade debts44 | €111,673 | €24,369 | €36,084 | €80,084 | €57,910 | €58,608 | €59,077 | ▲ 0.8% |
| Suppliers440/4 | - | - | - | €80,084 | €57,910 | €58,608 | €59,077 | ▲ 0.8% |
| Taxes, remuneration and social security45 | - | - | - | €4,567 | €7,551 | €14,604 | €13,480 | ▼ 7.7% |
| Taxes450/3 | - | - | - | €4,567 | €7,551 | €14,604 | €13,480 | ▼ 7.7% |
| Other amounts payable47/48 | - | - | - | €462,571 | - | - | - | - |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €52,306 | €10,206 | €20,359 | €82 | €14,742 | €33,157 | €13,435 | ▼ 59.5% |
| Operating cash flow (approximation) | €52,306 | €10,206 | €20,359 | €82 | €14,742 | €33,157 | €13,435 | ▼ 59.5% |
| Change in cash | - | -€593 | €4,068 | -€4,072 | €472 | -€216 | -€1,015 | ▼ 369% |
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, 4,107 companies had the same profile as 3G has now. Two years later, 98.0% were still going and 1.0% had gone bankrupt.
- Small
- 10 to 20 years old
- solvency 10 to 30%
- a profit under 5% of the balance sheet
98.0%
was still going
0.9%
stopped otherwise
1.0%
went bankrupt
Another 0.2% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of 3G 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 4,107 companies, not a prediction for 3G. 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 15 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | micro format | 24-12-2025 | 2025-00590571 | |
| 30-06-2024 | micro format | 24-01-2025 | 2025-00009553 | |
| 30-06-2023 | micro format | 09-01-2024 | 2024-00545385 | |
| 30-06-2022 | micro format | 24-01-2023 | 2023-00003793 | |
| 30-06-2021 | micro format | 31-01-2022 | 2022-03900378 | |
| 30-06-2020 | micro format | 01-02-2021 | 2021-04200084 | |
| 30-06-2019 | micro format | 28-01-2020 | 2020-02600030 | |
| 30-06-2018 | micro format | 15-01-2019 | 2019-01400558 | |
| 30-06-2017 | micro format | 25-01-2018 | 2018-02400026 | |
| 30-06-2016 | full format | 30-01-2017 | 2017-03200020 |