AB-Eiffage
ActiveFinancials · financial year 2025, full format
Annual accounts 2025 filed on 01-06-2026 PDF all 50 filings
Turnover
€120.7m▲ 52.6%
2024 · €79.1m
EBIT margin
0.0%▼ 2.4pp
2024 · 2.4%
Net result
€257,549▼ 82.8%
2024 · €1.5m
Working capital
€11.4m▼ 10.3%
2024 · €12.7m
In the rankings
#4 oldest company in the province of Antwerp, Construction of buildings sector#5 employer in Antwerp, Construction sector#9 company by total assets in the province of Antwerp, Construction of buildings sector
Multi-year overview
2018 to 2025, 8 financial yearsTurnover
€120.7m
▲ 52.6%
2025
20182025
Operating result
€23,461
▼ 98.8%
2025
20182025
Net result
€257,549
▼ 82.8%
2025
middle half of the sector
20182025
EBIT margin
0.0%
▼ 2.4pp
2025
20182025
Equity
€11.2m
▼ 10.2%
2025
highest quarter of the sector
20182025
Total assets
€74.7m
▲ 25.7%
2025
highest quarter of the sector
20182025
Debt
€62.9m
▲ 36.3%
2025
20182025
Working capital
€11.4m
▼ 10.3%
2025
highest quarter of the sector
20182025
Solvency
15.1%
▼ 6.0pp
2025
lowest quarter of the sector
20182025
Current ratio
1.20
▼ 0.11
2025
middle half of the sector
20182025
Return on assets (ROA)
0.3%
▼ 2.2pp
2025
middle half of the sector
20182025
Staff (FTE)
169.8
▲ 0.5%
2025
highest quarter of the sector
20182025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20182019202020212022202320242025
Turnover€121.9m-€79.1m▼ 35.2%€98.2m▲ 24.2%€83.5m▼ 14.9%€75.8m▼ 9.2%€74.6m▼ 1.6%€79.1m▲ 6.1%€120.7m▲ 52.6%
Operating result€0.5m-€0.2m▼ 57.0%€0.3m▲ 27.9%€1.5m▲ 433%€0.7m▼ 57.0%€3.4m▲ 404%€1.9m▼ 43.3%€0.02m▼ 98.8%
Net result€0.4m-€0.04m▼ 90.0%€0.1mabove the sector's middle half▲ 136%€1.0mabove the sector's middle half▲ 958%€0.4mabove the sector's middle half▼ 59.0%€2.2mabove the sector's middle half▲ 417%€1.5mabove the sector's middle half▼ 31.4%€0.3mwithin the sector's middle half▼ 82.8%
EBIT margin0.4%-0.3%▼ 0.1pp0.3%=1.9%▲ 1.6pp0.9%▼ 1.0pp4.5%▲ 3.6pp2.4%▼ 2.1pp0.0%▼ 2.4pp
Equity€8.8m-€8.9m▲ 0.5%€9.0mabove the sector's middle half▲ 1.1%€10.0mabove the sector's middle half▲ 11.5%€10.4mabove the sector's middle half▲ 4.2%€12.6mabove the sector's middle half▲ 21.0%€12.5mabove the sector's middle half▼ 0.7%€11.2mabove the sector's middle half▼ 10.2%
Total assets€52.5m-€57.5m▲ 9.6%€49.7mabove the sector's middle half▼ 13.5%€47.3mabove the sector's middle half▼ 4.8%€49.7mabove the sector's middle half▲ 4.9%€48.2mabove the sector's middle half▼ 2.8%€59.4mabove the sector's middle half▲ 23.1%€74.7mabove the sector's middle half▲ 25.7%
Debt€42.9m-€47.9m▲ 11.7%€39.5m▼ 17.6%€36.2m▼ 8.3%€38.2m▲ 5.6%€34.6m▼ 9.5%€46.1m▲ 33.3%€62.9m▲ 36.3%
Working capital€7.2m-€7.7m▲ 6.3%€8.7mabove the sector's middle half▲ 13.1%€9.7mabove the sector's middle half▲ 10.9%€10.4mabove the sector's middle half▲ 7.9%€12.7mabove the sector's middle half▲ 22.2%€12.7mabove the sector's middle half▼ 0.3%€11.4mabove the sector's middle half▼ 10.3%
Solvency16.8%-15.4%▼ 1.4pp18.0%within the sector's middle half▲ 2.6pp21.1%within the sector's middle half▲ 3.1pp21.0%within the sector's middle half▼ 0.1pp26.1%within the sector's middle half▲ 5.1pp21.1%within the sector's middle half▼ 5.0pp15.1%below the sector's middle half▼ 6.0pp
Current ratio1.19-1.18▼ 0.011.25within the sector's middle half▲ 0.071.31within the sector's middle half▲ 0.051.31within the sector's middle half=1.42within the sector's middle half▲ 0.111.31within the sector's middle half▼ 0.121.20within the sector's middle half▼ 0.11
Return on assets (ROA)0.8%-0.1%▼ 0.7pp0.2%within the sector's middle half▲ 0.1pp2.2%within the sector's middle half▲ 2.0pp0.9%within the sector's middle half▼ 1.3pp4.5%within the sector's middle half▲ 3.7pp2.5%within the sector's middle half▼ 2.0pp0.3%within the sector's middle half▼ 2.2pp
Staff (FTE)194.7-187.5▼ 3.7%178.4above the sector's middle half▼ 4.9%168.8above the sector's middle half▼ 5.4%159.8above the sector's middle half▼ 5.3%156above the sector's middle half▼ 2.4%168.9above the sector's middle half▲ 8.3%169.8above the sector's middle half▲ 0.5%
above
within
below
The sector band is the middle half of the companies in Construction of residential and non-residential buildings (NACE 41). 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 99% lower than in 2024 and the lowest since 2021. It is the second fall in a row.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €74.7m
Fixed assets
€4.8m ▼ 5.3%
Current assets
€69.9m ▲ 28.6%
Equity and liabilities €74.7m
Equity
€11.2m ▼ 10.2%
Provisions
€523,723 ▼ 28.9%
Debt
€62.9m ▲ 36.3%
Debt's share of the balance-sheet total rises from 77.7% to 84.2%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
€478,295▼
2024 · €2.4m
Cash flow
€712,383▼
2024 · €2.0m
Debt to equity
5.60▲
2024 · 3.69
ROE
2.3%▼
2024 · 12.0%
Interest coverage
4.06▼
2024 · 21.49
Debt ≤ 1 year
€58.5m▲
2024 · €41.6m
Debt > 1 year
€1.4m▼
2024 · €1.9m
Income taxes
€154,283▼
2024 · €742,708
Customer credit
85 days▼
2024 · 95 days
Supplier credit
189 days▼
2024 · 216 days
Staff costs
€14.3m▲
2024 · €12.9m
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 |
|---|---|---|---|---|
| Employees at the balance-sheet date | 175 | 165 | 164 | 167 |
| full-time | 149 | 141 | 139 | 142 |
| part-time | 26 | 24 | 25 | 25 |
| in full-time equivalents | 167.7 | 158.9 | 157.6 | 160.9 |
| Average over the year, in full-time equivalents | 168.8 | 159.8 | 156 | 168.9 |
| On a permanent contract | 175 | 164 | 164 | 167 |
| Joined | 14 | 17 | 20 | 27 |
| Left | 18 | 26 | 21 | 24 |
| Agency workers, average number | 1.3 | 4.4 | 3.4 | 4.5 |
| Training hours | 2,657 | 4,381 | 4,673 | 2,120 |
Source: social balance sheet in the 2021 to 2024 annual accounts
Securities and guarantees
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Debts secured on the company's own assets | €3.0m | €3.0m | €3.0m | €2.4m | €1.9m |
| Mortgages, amount registered | €591,000 | €591,000 | €25,000 | €25,000 | - |
| Mortgage mandates | - | - | €566,000 | €566,000 | - |
| Carrying value of the mortgaged assets | €85,376 | €85,376 | €85,376 | €85,376 | - |
Source: notes to the 2021 to 2025 annual accounts (statement of debts and off-balance-sheet rights and commitments)
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | €402,531 | €167,539 | €285,279 | €345,424 | €203,195 |
| Intangible fixed assets | €12,890 | - | - | - | - |
| Financial fixed assets | - | - | €14,990 | - | - |
| Depreciation and write-downs of the year | €604,338 | €587,572 | €578,103 | €523,813 | €454,834 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Auditor
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Fee for the audit | €28,346 | €30,713 | €33,016 | €37,252 | €33,115 |
| Other work by the auditor | €4,215 | €3,333 | - | - | - |
Source: notes to the 2021 to 2025 annual accounts (relations with the auditor)
Subsidies and aid
Flemish government
2022 to 2024 · 3 entries · €4,686 awarded · €4,686 paid| Year | Entries | Awarded | Paid |
|---|---|---|---|
| 2024 | 1 | €1,704 | €1,704 |
| 2023 | 1 | €2,641 | €2,641 |
| 2022 | 1 | €341 | €341 |
Schemes
Public contracts
4 awards · 2022 to 2025
Logistiek Centrum Infrabel Brugge. Bouwen van een sanitair- en sociaal gebouw en verbouwen van een bestaand logistiek gebouw met heraanleg van de buitenomgeving en parking. Bouwen van een nieuw en slopen van het bestaande tractieonderstation.: 57/54/3/21/046 - Logistiek Centrum Infrastructuur Brugge. Bouwen van een sanitair- en sociaal gebouw en verbouwen van een bestaand logistiek gebouw met heraanleg van de buitenomgeving en parking.
Bouwen van een nieuw en slopen van het bestaande tractieonderstation.
ZNA Jan Palfijn - Nieuwbouw voorbouw: wind- en waterdichte ruwbouw en aanleg BEO veld incl. aanleveren as-built dossier
Huidige opdracht heeft als voorwerp het uitvoeren van de gesloten ruwbouw voor het project “GZA Sint Augustinus NICU/Fertiliteit ” in campus Sint Augustinus te Wilrijk - Antwerpen die deel uitmaken van de aanbestedende overheid.
BOUWPROJECT RITCS@KAAI
Source: TED (Tenders Electronic Daily), Publications Office of the European Union. The values are as the buyer published them. For a framework agreement, the value is a ceiling.
Annual accounts
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Operating income70/76A | - | €81.8m | €100.6m | €85.6m | €75.8m | €76.4m | €82.6m | €118.2m | ▲ 43.1% |
| Turnover70 | €121.9m | €79.1m | €98.2m | €83.5m | €75.8m | €74.6m | €79.1m | €120.7m | ▲ 52.6% |
| Change in stocks of work in progress, finished goods and contracts in progress71 | - | -€0.8m | €0.5m | €1.0m | -€2.2m | -€0.3m | -€0.2m | -€4.2m | ▼ 2,465% |
| Other operating income74 | - | €3.6m | €1.9m | €1.1m | €2.2m | €2.1m | €3.7m | €1.7m | ▼ 55.4% |
| Operating charges60/66A | - | €81.6m | €100.3m | €84.1m | €75.1m | €73.1m | €80.7m | €118.2m | ▲ 46.4% |
| Goods for resale, raw materials and consumables60 | - | €58.1m | €73.6m | €61.9m | €52.3m | €50.2m | €55.4m | €86.0m | ▲ 55.2% |
| Purchases600/8 | - | - | - | €61.9m | €52.3m | €50.2m | €55.4m | - | - |
| Services and other goods61 | - | €10.4m | €12.2m | €9.0m | €11.4m | €10.3m | €11.8m | €17.5m | ▲ 48.9% |
| Remuneration, social security and pensions62 | - | €12.7m | €12.2m | €11.6m | €11.7m | €12.6m | €12.9m | €14.3m | ▲ 10.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | €0.5m | €0.5m | ▼ 13.2% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals)631/4 | - | -€0.5m | €1.0m | €0.9m | -€0.9m | -€1.3m | - | - | - |
| Provisions for liabilities and charges: additions (uses and reversals)635/8 | - | -€0.01m | €0.5m | -€0.1m | -€0.1m | €0.04m | -€0.3m | -€0.2m | ▲ 30.7% |
| Other operating charges640/8 | - | €0.3m | €0.2m | €0.2m | €0.2m | €0.6m | €0.4m | €0.2m | ▼ 61.4% |
| Operating profit (loss)9901 | €0.5m | €0.2m | €0.3m | €1.5m | €0.7m | €3.4m | €1.9m | €0.02m | ▼ 98.8% |
| Financial income75/76B | - | - | - | €0.03m | €0.07m | €0.3m | €0.5m | - | - |
| Recurring financial income75 | €0.1m | €0.02m | €0.02m | €0.03m | €0.07m | €0.3m | €0.5m | €0.6m | ▲ 7.2% |
| Income from financial fixed assets750 | - | €0.002m | - | €0.001m | €0.07m | €8 | €267 | €0.1m | ▲ 427× |
| Income from current assets751 | - | €0.02m | €0.02m | €150 | €449 | €0.3m | €0.5m | €0.4m | ▼ 14.0% |
| Other financial income752/9 | - | €0.001m | €0.007m | €0.03m | €36 | €0.001m | €0.004m | €0.001m | ▼ 76.7% |
| Financial charges65/66B | - | €0.2m | €0.2m | €0.2m | €0.2m | €0.4m | €0.2m | €0.2m | ▼ 5.8% |
| Recurring financial charges65 | €0.2m | €0.2m | €0.2m | €0.2m | €0.2m | €0.4m | €0.2m | €0.2m | ▼ 4.2% |
| Debt charges650 | €0.1m | €0.1m | €0.1m | €0.1m | €0.1m | €0.09m | €0.1m | €0.1m | ▲ 4.4% |
| Other financial charges652/9 | - | €0.07m | €0.07m | €0.07m | €0.07m | €0.3m | €0.08m | €0.07m | ▼ 16.4% |
| Non-recurring financial charges66B | - | - | - | - | - | - | €0.003m | - | - |
| Profit (loss) for the period before taxes9903 | €0.4m | €0.04m | €0.1m | €1.4m | €0.5m | €3.2m | €2.2m | €0.4m | ▼ 82.0% |
| Transfer from deferred taxes780 | - | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | €0.01m | = |
| Income taxes67/77 | €0.02m | €0.007m | €0.01m | €0.4m | €0.1m | €1.1m | €0.7m | €0.2m | ▼ 79.2% |
| Taxes670/3 | - | €0.02m | €0.02m | €0.4m | €0.2m | €1.1m | €0.7m | €0.2m | ▼ 79.2% |
| Tax adjustments and reversals of tax provisions77 | - | €0.01m | €0.002m | - | €0.06m | €0.002m | €49 | - | - |
| Profit (loss) for the period9904 | €0.4m | €0.04m | €0.1m | €1.0m | €0.4m | €2.2m | €1.5m | €0.3m | ▼ 82.8% |
| Transfer from tax-exempt reserves789 | - | €0.03m | €0.03m | €0.03m | €0.03m | €0.03m | €0.03m | €0.03m | = |
| Transfer to tax-exempt reserves689 | - | €0.009m | - | - | - | - | - | - | - |
| Profit (loss) for the period to be appropriated9905 | €0.4m | €0.06m | €0.1m | €1.1m | €0.5m | €2.2m | €1.5m | €0.3m | ▼ 81.2% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Total assets20/58 | €52.5m | €57.5m | €49.7m | €47.3m | €49.7m | €48.2m | €59.4m | €74.7m | ▲ 25.7% |
| Fixed assets21/28 | €6.7m | €6.6m | €6.3m | €6.1m | €5.6m | €5.3m | €5.1m | €4.8m | ▼ 5.3% |
| Intangible fixed assets21 | €0.02m | €0.008m | €0.009m | €0.02m | €0.01m | €0.007m | €0.003m | - | - |
| Tangible fixed assets22/27 | €6.6m | €6.6m | €6.2m | €5.9m | €5.5m | €5.2m | €5.0m | €4.7m | ▼ 5.3% |
| Land and buildings22 | - | €0.09m | €0.09m | €0.09m | €0.09m | €0.09m | €0.09m | €0.09m | = |
| Furniture and vehicles24 | - | €0.3m | €0.2m | €0.2m | €0.2m | €0.1m | €0.1m | €0.2m | ▲ 60.2% |
| Leasing and similar rights25 | - | €5.8m | €5.5m | €5.3m | €5.0m | €4.7m | €4.3m | €4.0m | ▼ 7.2% |
| Other tangible fixed assets26 | - | €0.4m | €0.4m | €0.3m | €0.3m | €0.3m | €0.5m | €0.4m | ▼ 7.4% |
| Financial fixed assets28 | €0.08m | €0.08m | €0.08m | €0.1m | €0.1m | €0.1m | €0.07m | €0.07m | = |
| Affiliated companies280/1 | - | €0.04m | €0.04m | €0.04m | €0.04m | €0.03m | €0.03m | €0.03m | = |
| Participating interests280 | - | €0.04m | €0.04m | €0.04m | €0.04m | €0.03m | €0.03m | €0.03m | = |
| Companies linked by participating interests282/3 | - | - | - | - | - | €0.03m | €0.03m | €0.03m | = |
| Participating interests282 | - | - | - | - | - | €0.03m | €0.03m | €0.03m | = |
| Other financial fixed assets284/8 | - | €0.04m | €0.04m | €0.06m | €0.07m | €0.06m | €0.01m | €0.01m | = |
| Shares284 | - | €0.03m | €0.03m | €0.03m | €0.03m | €0.03m | €0.005m | €0.005m | = |
| Amounts receivable and cash guarantees285/8 | - | €0.008m | €0.008m | €0.03m | €0.04m | €0.03m | €0.008m | €0.008m | = |
| Current assets29/58 | €45.8m | €50.9m | €43.5m | €41.3m | €44.0m | €42.9m | €54.3m | €69.9m | ▲ 28.6% |
| Amounts receivable within one year40/41 | €39.1m | €42.3m | €38.6m | €35.9m | €35.7m | €40.5m | €37.7m | €56.2m | ▲ 49.1% |
| Trade receivables40 | - | €30.7m | €25.9m | €27.9m | €25.7m | €20.5m | €20.5m | €28.2m | ▲ 37.1% |
| Other amounts receivable41 | - | €11.5m | €12.7m | €8.1m | €10.0m | €20.0m | €17.1m | €28.0m | ▲ 63.5% |
| Current investments50/53 | - | - | - | €0.01m | €0.04m | €0.05m | €12.0m | €1.6m | ▼ 86.6% |
| Other investments51/53 | - | - | - | €0.01m | €0.04m | €0.05m | €12.0m | €1.6m | ▼ 86.6% |
| Cash at bank and in hand54/58 | €6.6m | €8.5m | €4.7m | €5.3m | €7.8m | €1.7m | €3.2m | €10.3m | ▲ 222% |
| Deferred charges and accrued income490/1 | - | €0.1m | €0.1m | €0.07m | €0.5m | €0.6m | €1.5m | €1.8m | ▲ 23.1% |
| Equity and liabilities | |||||||||
| Total equity and liabilities10/49 | €52.5m | €57.5m | €49.7m | €47.3m | €49.7m | €48.2m | €59.4m | €74.7m | ▲ 25.7% |
| Equity10/15 | €8.8m | €8.9m | €9.0m | €10.0m | €10.4m | €12.6m | €12.5m | €11.2m | ▼ 10.2% |
| Contributions10/11 | €8.0m | €8.0m | €8.0m | €8.0m | €8.0m | €8.0m | €8.0m | €8.0m | = |
| Capital10 | - | €8.0m | €8.0m | €8.0m | €8.0m | €8.0m | €8.0m | €8.0m | = |
| Issued capital100 | - | €8.0m | €8.0m | €8.0m | €8.0m | €8.0m | €8.0m | €8.0m | = |
| Reserves13 | €3.1m | €3.1m | €3.1m | €3.1m | €3.0m | €3.0m | €3.0m | €3.0m | ▼ 1.0% |
| Non-distributable reserves130/1 | - | - | €1.3m | €1.3m | €1.3m | €1.3m | €1.3m | €1.3m | = |
| Legal reserve130 | - | €1.3m | €1.3m | €1.3m | €1.3m | €1.3m | €1.3m | €1.3m | = |
| Tax-exempt reserves132 | - | €1.8m | €1.8m | €1.8m | €1.7m | €1.7m | €1.7m | €1.6m | ▼ 1.8% |
| Distributable reserves133 | - | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | €0.002m | = |
| Profit (loss) carried forward14 | -€2.3m | -€2.3m | -€2.1m | -€1.1m | -€0.6m | €1.6m | €1.5m | €0.3m | ▼ 81.2% |
| Provisions and deferred taxes16 | €0.8m | €0.8m | €1.3m | €1.1m | €1.0m | €1.0m | €0.7m | €0.5m | ▼ 28.9% |
| Provisions for liabilities and charges160/5 | - | €0.5m | €1.0m | €0.9m | €0.8m | €0.8m | €0.5m | €0.3m | ▼ 39.8% |
| Other liabilities and charges164/5 | - | €0.5m | €1.0m | €0.9m | €0.8m | €0.8m | €0.5m | €0.3m | ▼ 39.8% |
| Deferred taxes168 | - | €0.3m | €0.3m | €0.3m | €0.2m | €0.2m | €0.2m | €0.2m | ▼ 4.4% |
| Amounts payable17/49 | €42.9m | €47.9m | €39.5m | €36.2m | €38.2m | €34.6m | €46.1m | €62.9m | ▲ 36.3% |
| Amounts payable after more than one year17 | €4.3m | €4.1m | €3.9m | €3.5m | €2.9m | €2.4m | €1.9m | €1.4m | ▼ 27.9% |
| Financial debts170/4 | - | €4.1m | €3.9m | €3.5m | €2.9m | €2.4m | €1.9m | €1.4m | ▼ 27.9% |
| Leasing and similar obligations172 | - | €4.1m | €3.9m | €3.5m | €2.9m | €2.4m | €1.9m | €1.4m | ▼ 27.9% |
| Amounts payable within one year42/48 | €38.6m | €43.2m | €34.8m | €31.6m | €33.6m | €30.2m | €41.6m | €58.5m | ▲ 40.5% |
| Current portion of amounts payable after more than one year42 | - | €0.7m | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | €0.5m | ▼ 7.2% |
| Trade debts44 | €29.8m | €33.9m | €26.3m | €23.4m | €23.6m | €21.5m | €32.9m | €44.5m | ▲ 35.5% |
| Suppliers440/4 | - | €33.9m | €26.3m | €23.4m | €23.6m | €21.5m | €32.9m | €44.5m | ▲ 35.5% |
| Advances received on contracts in progress46 | - | €6.1m | €6.6m | €6.6m | €7.8m | €6.8m | €6.9m | €11.1m | ▲ 59.9% |
| Taxes, remuneration and social security45 | - | €1.0m | €1.0m | €1.0m | €1.6m | €1.3m | €1.2m | €2.2m | ▲ 75.6% |
| Taxes450/3 | - | €279 | €0.004m | €0.005m | €0.4m | €0.007m | €0.001m | €0.3m | ▲ 243× |
| Remuneration and social security454/9 | - | €1.0m | €1.0m | €1.0m | €1.2m | €1.3m | €1.2m | €1.9m | ▲ 51.3% |
| Other amounts payable47/48 | - | €1.5m | €0.3m | €0.02m | €0.003m | €0.002m | €0.01m | €0.1m | ▲ 988% |
| Accrued charges and deferred income492/3 | - | €0.6m | €0.8m | €1.1m | €1.7m | €2.0m | €2.6m | €3.1m | ▲ 16.6% |
| Line | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €0.4m | €0.04m | €0.1m | €1.0m | €0.4m | €2.2m | €1.5m | €0.3m | ▼ 82.8% |
| + Depreciation and write-downs630 | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | €0.6m | €0.5m | €0.5m | ▼ 13.2% |
| Operating cash flow (approximation) | €1.1m | €0.7m | €0.7m | €1.6m | €1.0m | €2.8m | €2.0m | €0.7m | ▼ 64.8% |
| Investment in fixed assets (approximation) | - | -€0.5m | -€0.2m | -€0.4m | -€0.1m | -€0.3m | -€0.3m | -€0.2m | ▲ 32.6% |
| Change in cash | - | €1.9m | -€3.7m | €0.5m | €2.5m | -€6.1m | €1.5m | €7.1m | ▲ 374% |
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, 733 companies had the same profile as AB-Eiffage has now. Two years later, 97.3% were still going and 1.0% had gone bankrupt.
- Medium-sized
- 20 years or older
- solvency 10 to 30%
- a profit under 5% of the balance sheet
97.3%
was still going
1.4%
stopped otherwise
1.0%
went bankrupt
Another 0.4% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of AB-Eiffage itself: 0.5% 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 733 companies, not a prediction for AB-Eiffage. 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 50 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | full format | 01-06-2026 | 2026-00135160 | |
| 31-12-2024 | full format | 20-05-2025 | 2025-00107926 | |
| 31-12-2023 | full format | 24-09-2024 | 2024-00474218 | |
| 31-12-2022 | full format | 14-06-2023 | 2023-00139860 | |
| 31-12-2021 | full format | 14-06-2022 | 2022-20068085 | |
| 31-12-2020 | full format | 09-06-2021 | 2021-19700450 | |
| 31-12-2019 | full format | 29-06-2020 | 2020-24200354 | |
| 31-12-2018 | full format | 20-06-2019 | 2019-22400097 | |
| 31-12-2017 | full format | 28-05-2018 | 2018-15000425 | |
| 31-12-2016 | full format | 22-05-2017 | 2017-12800024 |