3hoog
ActiveFinancials · financial year 2025, abbreviated format
Annual accounts 2025 filed on 22-07-2026 at the NBB all 17 filings
Turnover
≈ €370,000
Estimated: probably between €260,000 and €590,000
Total assets
€284,913▲ 13.3%
2024 · €251,432
Net result
€10,727▼ 87.3%
2024 · €84,264
Working capital
€102,273▲ 24.2%
2024 · €82,368
Multi-year overview
2018 to 2025, 8 financial yearsOperating result
€21,383
▼ 82.0%
2025
20182025
Net result
€10,727
▼ 87.3%
2025
middle half of the sector
20182025
Equity
€83,511
▲ 14.7%
2025
middle half of the sector
20182025
Total assets
€284,913
▲ 13.3%
2025
middle half of the sector
20182025
Debt
€201,402
▲ 12.7%
2025
20182025
Working capital
€102,273
▲ 24.2%
2025
middle half of the sector
20182025
Solvency
29.3%
▲ 0.4pp
2025
middle half of the sector
20182025
Current ratio
1.84
▲ 0.32
2025
middle half of the sector
20182025
Return on assets (ROA)
3.8%
▼ 29.7pp
2025
middle half of the sector
20182025
Staff (FTE)
4.4
▲ 10.0%
2025
middle half of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Operating result-€1,517--€14,857▼ 879%-€81,979▼ 452%€101,108€205,797▲ 104%€120,360▼ 41.5%€118,525▼ 1.5%€21,383▼ 82.0%
Net result-€1,501--€14,920▼ 894%-€81,619below the sector's middle half▼ 447%€100,805within the sector's middle half€151,444above the sector's middle half▲ 50.2%€82,129within the sector's middle half▼ 45.8%€84,264within the sector's middle half▲ 2.6%€10,727within the sector's middle half▼ 87.3%
Equity€15,120-€200▼ 98.7%-€81,419below the sector's middle half€19,386below the sector's middle half€31,391below the sector's middle half▲ 61.9%€63,520below the sector's middle half▲ 102%€72,784within the sector's middle half▲ 14.6%€83,511within the sector's middle half▲ 14.7%
Total assets€15,468-€180,510▲ 12×€86,658below the sector's middle half▼ 52.0%€157,822below the sector's middle half▲ 82.1%€379,395within the sector's middle half▲ 140%€368,255within the sector's middle half▼ 2.9%€251,432below the sector's middle half▼ 31.7%€284,913within the sector's middle half▲ 13.3%
Debt€348-€180,311▲ 518×€168,077▼ 6.8%€138,436▼ 17.6%€348,003▲ 151%€304,734▼ 12.4%€178,648▼ 41.4%€201,402▲ 12.7%
Working capital€14,977--€8,302-€90,968below the sector's middle half▼ 996%€14,865within the sector's middle half€32,108within the sector's middle half▲ 116%€48,419within the sector's middle half▲ 50.8%€82,368within the sector's middle half▲ 70.1%€102,273within the sector's middle half▲ 24.2%
Solvency97.8%-0.1%▼ 97.6pp-94.0%below the sector's middle half▼ 94.1pp12.3%below the sector's middle half▲ 106.2pp8.3%below the sector's middle half▼ 4.0pp17.2%within the sector's middle half▲ 9.0pp28.9%within the sector's middle half▲ 11.7pp29.3%within the sector's middle half▲ 0.4pp
Current ratio44.04-0.95▼ 43.080.46below the sector's middle half▼ 0.501.11within the sector's middle half▲ 0.651.09within the sector's middle half▼ 0.011.16within the sector's middle half▲ 0.071.52within the sector's middle half▲ 0.361.84within the sector's middle half▲ 0.32
Return on assets (ROA)-9.7%--8.3%▲ 1.4pp-94.2%below the sector's middle half▼ 85.9pp63.9%above the sector's middle half▲ 158.1pp39.9%above the sector's middle half▼ 24.0pp22.3%above the sector's middle half▼ 17.6pp33.5%above the sector's middle half▲ 11.2pp3.8%within the sector's middle half▼ 29.7pp
Staff (FTE)5.6within the sector's middle half5.1within the sector's middle half▼ 8.9%5.4within the sector's middle half▲ 5.9%5.2within the sector's middle half▼ 3.7%4within the sector's middle half▼ 23.1%4.4within the sector's middle half▲ 10.0%
above
within
below
The sector band is the middle half of the companies in Office administrative, office support and other business support activities (NACE 82). 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 82% lower than in 2024 and the lowest since 2021. It is the third fall in a row.
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 €284,913
Fixed assets
€60,375 ▲ 461%
Current assets
€224,539 ▼ 6.7%
Equity and liabilities €284,913
Equity
€83,511 ▲ 14.7%
Debt
€201,402 ▲ 12.7%
Debt's share of the balance-sheet total falls from 71.1% to 70.7%. Equity and debt are higher.
Key figures and ratios
EBITDA
€37,641▼
2024 · €125,177
Cash flow
€26,985▼
2024 · €90,916
Debt to equity
2.41▼
2024 · 2.45
ROE
12.8%▼
2024 · 115.8%
Interest coverage
14.28▼
2024 · 57.46
Debt ≤ 1 year
€122,266▼
2024 · €158,296
Debt > 1 year
€38,956▲
2024 · €0
Income taxes
€8,024▼
2024 · €32,083
Staff costs
€173,416▼
2024 · €309,373
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 | 4 | 5 | 4 | 3 | 7 |
| full-time | 4 | 5 | 3 | 3 | 5 |
| part-time | 0 | 0 | 1 | 0 | 2 |
| in full-time equivalents | 4 | 5 | 4 | 3 | 6.8 |
| Average over the year, in full-time equivalents | 5.1 | 5.4 | 5.2 | 4 | 4.4 |
| On a permanent contract | 4 | 5 | 4 | 3 | 4 |
| Joined | 31 | 72 | 69 | 148 | 88 |
| Left | 32 | 71 | 71 | 149 | 84 |
| Training hours | 4 | - | - | - | - |
Source: social balance sheet in the 2021 to 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | €8,589 | €16,470 | €2,351 | €94,939 |
| Depreciation and write-downs of the year | €5,028 | €5,889 | €7,152 | €6,653 | €16,257 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Subsidies and aid
Flemish government
2022 to 2025 · 2 entries · €510 awarded · €510 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2025 | 1 | €435 | €435 |
| 2022 | 1 | €75 | €75 |
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Non-recurring operating income76A | - | - | - | - | - | - | €4,869 | €3,957 | ▼ 18.7% |
| Remuneration, social security and pensions62 | - | €104,138 | - | €162,985 | €292,978 | €338,964 | €309,373 | €173,416 | ▼ 43.9% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €60 | €1,418 | €4,386 | €5,028 | €5,889 | €7,152 | €6,653 | €16,257 | ▲ 144% |
| Other operating charges640/8 | - | €846 | - | €849 | €2,373 | €1,710 | €1,202 | €3,573 | ▲ 197% |
| Non-recurring operating charges66A | - | - | - | €0 | - | - | - | - | - |
| Gross operating margin9900 | -€1,062 | €91,545 | €80,999 | €269,971 | €507,037 | €468,186 | €435,752 | €214,629 | ▼ 50.7% |
| Operating profit (loss)9901 | -€1,517 | -€14,857 | -€81,979 | €101,108 | €205,797 | €120,360 | €118,525 | €21,383 | ▼ 82.0% |
| Financial income75/76B | - | €65 | - | €369 | €101 | €411 | €0 | €4 | - |
| Recurring financial income75 | €16 | €65 | €1,327 | €369 | €101 | €411 | €0 | €4 | - |
| Financial charges65/66B | - | €128 | - | €281 | €753 | €2,806 | €2,179 | €2,637 | ▲ 21.0% |
| Recurring financial charges65 | - | €128 | €667 | €281 | €753 | €2,806 | €2,179 | €2,637 | ▲ 21.0% |
| Profit (loss) for the period before taxes9903 | -€1,501 | -€14,920 | -€81,319 | €101,195 | €205,146 | €117,966 | €116,346 | €18,751 | ▼ 83.9% |
| Income taxes67/77 | - | €0 | €300 | €390 | €53,701 | €35,837 | €32,083 | €8,024 | ▼ 75.0% |
| Profit (loss) for the period9904 | -€1,501 | -€14,920 | -€81,619 | €100,805 | €151,444 | €82,129 | €84,264 | €10,727 | ▼ 87.3% |
| Profit (loss) for the period to be appropriated9905 | -€1,501 | -€14,920 | -€81,619 | €100,805 | €151,444 | €82,129 | €84,264 | €10,727 | ▼ 87.3% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €15,468 | €180,510 | €86,658 | €157,822 | €379,395 | €368,255 | €251,432 | €284,913 | ▲ 13.3% |
| Fixed assets21/28 | €143 | €8,501 | €9,550 | €4,521 | €6,783 | €16,101 | €10,768 | €60,375 | ▲ 461% |
| Tangible fixed assets22/27 | €143 | €8,501 | €9,550 | €4,521 | €6,783 | €16,101 | €10,768 | €60,375 | ▲ 461% |
| Plant, machinery and equipment23 | - | €8,418 | - | €4,521 | €2,514 | €5,315 | €5,056 | €3,739 | ▼ 26.0% |
| Furniture and vehicles24 | - | €83 | - | €0 | €4,269 | €10,787 | €5,712 | €56,636 | ▲ 892% |
| Current assets29/58 | €15,325 | €172,009 | €77,108 | €153,301 | €372,612 | €352,153 | €240,664 | €224,539 | ▼ 6.7% |
| Amounts receivable within one year40/41 | €367 | €119,371 | €19,104 | €64,033 | €206,784 | €140,761 | €117,648 | €136,522 | ▲ 16.0% |
| Trade receivables40 | - | €117,884 | - | €63,963 | €206,784 | €138,590 | €113,230 | €127,025 | ▲ 12.2% |
| Other amounts receivable41 | - | €1,487 | - | €70 | €0 | €2,170 | €4,417 | €9,497 | ▲ 115% |
| Cash at bank and in hand54/58 | €14,958 | €51,404 | €54,555 | €87,805 | €161,745 | €206,147 | €118,237 | €75,667 | ▼ 36.0% |
| Deferred charges and accrued income490/1 | - | €1,234 | - | €1,463 | €4,083 | €5,246 | €4,780 | €12,350 | ▲ 158% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €15,468 | €180,510 | €86,658 | €157,822 | €379,395 | €368,255 | €251,432 | €284,913 | ▲ 13.3% |
| Equity10/15 | €15,120 | €200 | -€81,419 | €19,386 | €31,391 | €63,520 | €72,784 | €83,511 | ▲ 14.7% |
| Contributions10/11 | €6,200 | €6,200 | - | €6,200 | €6,200 | €6,200 | €6,200 | €6,200 | = |
| Reserves13 | €8,920 | €8,920 | €8,920 | €8,920 | €8,920 | €8,920 | €8,920 | €8,920 | = |
| Non-distributable reserves130/1 | - | €1,860 | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Reserves not available under the articles1311 | - | €1,860 | - | €1,860 | €1,860 | €1,860 | €1,860 | €1,860 | = |
| Distributable reserves133 | - | €7,060 | - | €7,060 | €7,060 | €7,060 | €7,060 | €7,060 | = |
| Profit (loss) carried forward14 | - | -€14,920 | -€96,539 | €4,266 | €16,272 | €48,400 | €57,664 | €68,391 | ▲ 18.6% |
| Amounts payable17/49 | €348 | €180,311 | €168,077 | €138,436 | €348,003 | €304,734 | €178,648 | €201,402 | ▲ 12.7% |
| Amounts payable after more than one year17 | - | - | - | - | - | €1,000 | €0 | €38,956 | - |
| Financial debts170/4 | - | - | - | - | - | - | - | €38,956 | - |
| Other amounts payable178/9 | - | - | - | - | - | €1,000 | €0 | - | - |
| Amounts payable within one year42/48 | €348 | €180,311 | €168,077 | €138,436 | €340,503 | €303,734 | €158,296 | €122,266 | ▼ 22.8% |
| Current portion of amounts payable after more than one year42 | - | - | - | - | - | - | - | €10,767 | - |
| Trade debts44 | €348 | €85,721 | €144,271 | €72,148 | €111,730 | €122,501 | €78,604 | €69,414 | ▼ 11.7% |
| Suppliers440/4 | - | €85,721 | - | €72,148 | €111,730 | €122,501 | €78,604 | €69,414 | ▼ 11.7% |
| Advances received on contracts in progress46 | - | €64,226 | - | €20,303 | €14,467 | €13,855 | €0 | - | - |
| Taxes, remuneration and social security45 | - | €13,659 | - | €28,447 | €83,230 | €117,379 | €78,192 | €42,085 | ▼ 46.2% |
| Taxes450/3 | - | €6,516 | - | €21,085 | €70,823 | €108,567 | €63,931 | €24,334 | ▼ 61.9% |
| Remuneration and social security454/9 | - | €7,143 | - | €7,361 | €12,407 | €8,812 | €14,261 | €17,751 | ▲ 24.5% |
| Other amounts payable47/48 | - | €16,705 | - | €17,539 | €131,076 | €50,000 | €1,500 | €0 | ▼ 100% |
| Accrued charges and deferred income492/3 | - | - | - | - | €7,500 | €0 | €20,352 | €40,180 | ▲ 97.4% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€1,501 | -€14,920 | -€81,619 | €100,805 | €151,444 | €82,129 | €84,264 | €10,727 | ▼ 87.3% |
| + Depreciation and write-downs630 | €60 | €1,418 | €4,386 | €5,028 | €5,889 | €7,152 | €6,653 | €16,257 | ▲ 144% |
| Operating cash flow (approximation) | -€1,441 | -€13,502 | -€77,233 | €105,833 | €157,333 | €89,281 | €90,916 | €26,985 | ▼ 70.3% |
| Investment in fixed assets (approximation) | - | -€9,776 | -€5,435 | €0 | -€8,151 | -€16,470 | -€1,319 | -€65,864 | ▼ 4,893% |
| Change in cash | - | €36,446 | €3,151 | €33,250 | €73,940 | €44,402 | -€87,910 | -€42,570 | ▲ 51.6% |
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, 4,508 companies had the same profile as 3hoog has now. Two years later, 96.9% were still going and 1.4% had gone bankrupt.
- Micro
- 10 to 20 years old
- solvency 10 to 30%
- a profit under 5% of the balance sheet
96.9%
was still going
1.6%
stopped otherwise
1.4%
went bankrupt
The bankruptcy probability of 3hoog itself is lower: 0.2% within 12 months. It rests on far more data about 3hoog 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 4,508 companies, not a prediction for 3hoog. 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 17 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | abbreviated format | 22-07-2026 | 2026-00316866 | |
| 31-12-2024 | abbreviated format | 02-06-2025 | 2025-00121826 | |
| 31-12-2023 | abbreviated format | 17-07-2024 | 2024-00263689 | |
| 31-12-2022 | abbreviated format | 08-05-2023 | 2023-00084677 | |
| 31-12-2021 | abbreviated format | 30-08-2022 | 2022-20344832 | |
| 31-12-2020 | abbreviated format | 29-07-2021 | 2021-44100235 | |
| 31-12-2019 | abbreviated format | 27-11-2020 | 2020-73100530 | |
| 31-12-2018 | micro format | 17-06-2019 | 2019-19500210 | |
| 31-12-2017 | micro format | 15-06-2018 | 2018-19600052 | |
| 31-12-2016 | micro format | 26-06-2017 | 2017-23000187 |