A&T EFFICIENCY
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 27-06-2026 at the NBB all 6 filings
Turnover
≈ €210,000
Estimated: probably between €190,000 and €280,000
Total assets
€118,229▲ 19.0%
2024 · €99,338
Net result
€24,627▼ 20.2%
2024 · €30,877
Working capital
€30,590
2024 · -€6,185
Multi-year overview
2020 to 2025, 6 financial yearsOperating result
€33,465
▼ 29.9%
2025
20202025
Net result
€24,627
▼ 20.2%
2025
middle half of the sector
20202025
Equity
€60,186
▲ 160%
2025
middle half of the sector
20202025
Total assets
€118,229
▲ 19.0%
2025
middle half of the sector
20202025
Debt
€58,043
▼ 23.8%
2025
20202025
Working capital
€30,590
2025
middle half of the sector
20202025
Solvency
50.9%
▲ 27.6pp
2025
middle half of the sector
20202025
Current ratio
1.59
▲ 0.69
2025
middle half of the sector
20202025
Return on assets (ROA)
20.8%
▼ 10.3pp
2025
middle half of the sector
20202025
Staff (FTE)
0.9
2025
20202025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line202020212022202320242025
Operating result-€6,693-€11,790-€10,204€1,072€47,761▲ 45×€33,465▼ 29.9%
Net result€1,577within the sector's middle half-€11,193within the sector's middle half▲ 610%-€10,777below the sector's middle half-€511below the sector's middle half▲ 95.3%€30,877within the sector's middle half€24,627within the sector's middle half▼ 20.2%
Equity€7,777below the sector's middle half-€18,970within the sector's middle half▲ 144%€8,193below the sector's middle half▼ 56.8%€7,682below the sector's middle half▼ 6.2%€23,159within the sector's middle half▲ 201%€60,186within the sector's middle half▲ 160%
Total assets€29,039below the sector's middle half-€54,546below the sector's middle half▲ 87.8%€39,105below the sector's middle half▼ 28.3%€52,934below the sector's middle half▲ 35.4%€99,338within the sector's middle half▲ 87.7%€118,229within the sector's middle half▲ 19.0%
Debt€21,262-€35,575▲ 67.3%€30,912▼ 13.1%€45,252▲ 46.4%€76,179▲ 68.3%€58,043▼ 23.8%
Working capital-€5,843below the sector's middle half--€2,285below the sector's middle half▲ 60.9%-€10,921below the sector's middle half▼ 378%-€15,356below the sector's middle half▼ 40.6%-€6,185below the sector's middle half▲ 59.7%€30,590within the sector's middle half
Solvency26.8%within the sector's middle half-34.8%within the sector's middle half▲ 8.0pp21.0%below the sector's middle half▼ 13.8pp14.5%below the sector's middle half▼ 6.4pp23.3%below the sector's middle half▲ 8.8pp50.9%within the sector's middle half▲ 27.6pp
Current ratio0.73below the sector's middle half-0.92below the sector's middle half▲ 0.190.60below the sector's middle half▼ 0.310.56below the sector's middle half▼ 0.040.90below the sector's middle half▲ 0.331.59within the sector's middle half▲ 0.69
Return on assets (ROA)5.4%within the sector's middle half-20.5%within the sector's middle half▲ 15.1pp-27.6%below the sector's middle half▼ 48.1pp-1.0%below the sector's middle half▲ 26.6pp31.1%above the sector's middle half▲ 32.0pp20.8%within the sector's middle half▼ 10.3pp
Staff (FTE)0.9
above
within
below
The sector band is the middle half of the companies in Advertising, market research and public relations activities (NACE 73). 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 30% 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 €118,229
Fixed assets
€35,401 ▼ 23.5%
Current assets
€82,829 ▲ 56.2%
Equity and liabilities €118,229
Equity
€60,186 ▲ 160%
Debt
€58,043 ▼ 23.8%
Debt's share of the balance-sheet total falls from 76.7% to 49.1%. Equity is higher and debt is lower.
Key figures and ratios
EBITDA
€46,459▼
2024 · €55,589
Cash flow
€37,620▼
2024 · €38,706
Debt to equity
0.96▼
2024 · 3.29
ROE
40.9%▼
2024 · 133.3%
Interest coverage
42.59▼
2024 · 61.48
Debt ≤ 1 year
€52,238▼
2024 · €59,229
Debt > 1 year
€5,776▼
2024 · €16,950
Income taxes
€7,748▼
2024 · €15,979
Staff costs
€51,803
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Staff
| Item | 31-12-2025 |
|---|---|
| Employees at the balance-sheet date | 1 |
| full-time | 1 |
| in full-time equivalents | 1 |
| Average over the year, in full-time equivalents | 0.9 |
| On a permanent contract | 1 |
| Joined | 1 |
| Left | 0 |
Source: social balance sheet in the 2025 annual accounts
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €16,458 | - | €22,821 | €26,931 | - |
| Financial fixed assets | €2,550 | - | - | - | €2,100 |
| Depreciation and write-downs of the year | €3,478 | €6,612 | €5,921 | €7,828 | €12,993 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Remuneration, social security and pensions62 | - | - | - | - | - | €51,803 | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €1,968 | €3,478 | €6,612 | €5,921 | €7,828 | €12,993 | ▲ 66.0% |
| Other operating charges640/8 | - | €386 | €658 | €2,165 | €5,228 | €593 | ▼ 88.7% |
| Gross operating margin9900 | -€4,416 | €15,655 | -€2,934 | €9,157 | €60,817 | €98,854 | ▲ 62.5% |
| Operating profit (loss)9901 | -€6,693 | €11,790 | -€10,204 | €1,072 | €47,761 | €33,465 | ▼ 29.9% |
| Financial income75/76B | - | €2,266 | - | €1 | - | €0 | - |
| Recurring financial income75 | - | €1 | - | €1 | - | €0 | - |
| Non-recurring financial income76B | - | €2,265 | - | - | - | - | - |
| Financial charges65/66B | - | €135 | €349 | €357 | €904 | €1,091 | ▲ 20.7% |
| Recurring financial charges65 | - | €135 | €349 | €357 | €904 | €1,091 | ▲ 20.7% |
| Profit (loss) for the period before taxes9903 | €1,681 | €13,921 | -€10,553 | €716 | €46,857 | €32,375 | ▼ 30.9% |
| Income taxes67/77 | €104 | €2,728 | €224 | €1,227 | €15,979 | €7,748 | ▼ 51.5% |
| Profit (loss) for the period9904 | €1,577 | €11,193 | -€10,777 | -€511 | €30,877 | €24,627 | ▼ 20.2% |
| Profit (loss) for the period to be appropriated9905 | €1,577 | €11,193 | -€10,777 | -€511 | €30,877 | €24,627 | ▼ 20.2% |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Total assets20/58 | €29,039 | €54,546 | €39,105 | €52,934 | €99,338 | €118,229 | ▲ 19.0% |
| Fixed assets21/28 | €13,620 | €29,150 | €22,537 | €33,235 | €46,294 | €35,401 | ▼ 23.5% |
| Tangible fixed assets22/27 | €11,620 | €24,600 | €17,987 | €28,685 | €41,744 | €28,751 | ▼ 31.1% |
| Furniture and vehicles24 | - | €24,600 | €17,987 | €28,685 | €41,744 | €28,751 | ▼ 31.1% |
| Financial fixed assets28 | €2,000 | €4,550 | €4,550 | €4,550 | €4,550 | €6,650 | ▲ 46.2% |
| Current assets29/58 | €15,419 | €25,396 | €16,568 | €19,699 | €53,044 | €82,829 | ▲ 56.2% |
| Amounts receivable within one year40/41 | €9,006 | €10,890 | €12,535 | €12,011 | €36,313 | €76,228 | ▲ 110% |
| Trade receivables40 | - | €10,890 | €12,535 | €12,011 | €36,292 | €72,655 | ▲ 100% |
| Other amounts receivable41 | - | - | - | - | €21 | €3,573 | ▲ 170× |
| Cash at bank and in hand54/58 | €6,003 | €11,982 | €1,485 | €6,276 | €10,142 | €970 | ▼ 90.4% |
| Deferred charges and accrued income490/1 | - | €2,524 | €2,548 | €1,412 | €6,589 | €5,631 | ▼ 14.5% |
| Equity and liabilities | |||||||
| Total equity and liabilities10/49 | €29,039 | €54,546 | €39,105 | €52,934 | €99,338 | €118,229 | ▲ 19.0% |
| Equity10/15 | €7,777 | €18,970 | €8,193 | €7,682 | €23,159 | €60,186 | ▲ 160% |
| Contributions10/11 | - | €6,200 | €6,200 | €6,200 | €6,200 | €18,600 | ▲ 200% |
| Profit (loss) carried forward14 | €1,577 | €12,770 | €1,993 | €1,482 | €16,959 | €41,586 | ▲ 145% |
| Amounts payable17/49 | €21,262 | €35,575 | €30,912 | €45,252 | €76,179 | €58,043 | ▼ 23.8% |
| Amounts payable after more than one year17 | - | €7,095 | €3,423 | €10,197 | €16,950 | €5,776 | ▼ 65.9% |
| Financial debts170/4 | - | €7,095 | €3,423 | €10,197 | €16,950 | €5,776 | ▼ 65.9% |
| Amounts payable within one year42/48 | €21,262 | €27,681 | €27,489 | €35,055 | €59,229 | €52,238 | ▼ 11.8% |
| Current portion of amounts payable after more than one year42 | - | €3,608 | €3,672 | €8,896 | €12,193 | €11,174 | ▼ 8.4% |
| Trade debts44 | €628 | €3,401 | €561 | €990 | €1,509 | - | - |
| Suppliers440/4 | - | €3,401 | €561 | €990 | €1,509 | - | - |
| Taxes, remuneration and social security45 | - | €6,298 | €5,880 | €7,187 | €21,831 | €30,635 | ▲ 40.3% |
| Taxes450/3 | - | €5,298 | €4,880 | €6,187 | €21,831 | €22,708 | ▲ 4.0% |
| Remuneration and social security454/9 | - | €1,000 | €1,000 | €1,000 | - | €7,927 | - |
| Other amounts payable47/48 | - | €14,374 | €17,376 | €17,982 | €23,697 | €10,430 | ▼ 56.0% |
| Accrued charges and deferred income492/3 | - | €800 | - | - | - | €29 | - |
| Line | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €1,577 | €11,193 | -€10,777 | -€511 | €30,877 | €24,627 | ▼ 20.2% |
| + Depreciation and write-downs630 | €1,968 | €3,478 | €6,612 | €5,921 | €7,828 | €12,993 | ▲ 66.0% |
| Operating cash flow (approximation) | €3,545 | €14,672 | -€4,165 | €5,409 | €38,706 | €37,620 | ▼ 2.8% |
| Investment in fixed assets (approximation) | - | -€19,008 | €0 | -€16,618 | -€20,888 | -€2,100 | ▲ 89.9% |
| Change in cash | - | €5,979 | -€10,497 | €4,792 | €3,866 | -€9,173 | - |
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, 26,972 companies had the same profile as A&T EFFICIENCY has now. Two years later, 94.9% were still going and 1.6% had gone bankrupt.
- Micro
- 5 to 10 years old
- solvency 30% or more
- a profit of 5% of the balance sheet or more
94.9%
was still going
3.4%
stopped otherwise
1.6%
went bankrupt
Another 0.1% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of A&T EFFICIENCY 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 26,972 companies, not a prediction for A&T EFFICIENCY. 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.
Filings with the National Bank (6)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 27-06-2026 | 2026-00229019 | |
| 31-12-2024 | micro format | 22-08-2025 | 2025-00444152 | |
| 31-12-2023 | micro format | 25-06-2024 | 2024-00189166 | |
| 31-12-2022 | micro format | 15-06-2023 | 2023-00141728 | |
| 31-12-2021 | micro format | 07-07-2022 | 2022-20172625 | |
| 31-12-2020 | micro format | 30-08-2021 | 2021-59200049 |