Agrippa
ActiveFinancials · financial year 2025, micro format
Annual accounts 2025 filed on 30-10-2025 PDF all 30 filings
Turnover
≈ €81,000
Estimated: probably between €34,000 and €160,000
Total assets
€102,933▲ 1.8%
2024 · €101,090
Net result
€8,663▲ 299%
2024 · €2,170
Working capital
-€14,825▲ 34.5%
2024 · -€22,628
In the rankings
#3 oldest company in Tielt-Winge, Manufacturing sector
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
€7,776
▲ 118%
2025
20192025
Net result
€8,663
▲ 299%
2025
middle half of the sector
20192025
Equity
-€3,034
▲ 74.1%
2025
lowest quarter of the sector
20192025
Total assets
€102,933
▲ 1.8%
2025
middle half of the sector
20192025
Debt
€105,967
▼ 6.0%
2025
20192025
Working capital
-€14,825
▲ 34.5%
2025
lowest quarter of the sector
20192025
Solvency
-2.9%
▲ 8.6pp
2025
lowest quarter of the sector
20192025
Current ratio
0.86
▲ 0.06
2025
lowest quarter of the sector
20192025
Return on assets (ROA)
8.4%
▲ 6.3pp
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€9,267-€1,642▼ 82.3%€15,235▲ 828%€7,117▼ 53.3%€5,649▼ 20.6%€3,569▼ 36.8%€7,776▲ 118%
Net result€11,577-€2,811within the sector's middle half▼ 75.7%€15,214within the sector's middle half▲ 441%€8,514within the sector's middle half▼ 44.0%€4,009within the sector's middle half▼ 52.9%€2,170within the sector's middle half▼ 45.9%€8,663within the sector's middle half▲ 299%
Equity-€44,416--€41,605below the sector's middle half▲ 6.3%-€26,391below the sector's middle half▲ 36.6%-€17,877below the sector's middle half▲ 32.3%-€13,868below the sector's middle half▲ 22.4%-€11,698below the sector's middle half▲ 15.7%-€3,034below the sector's middle half▲ 74.1%
Total assets€58,321-€61,555below the sector's middle half▲ 5.5%€73,182below the sector's middle half▲ 18.9%€77,929below the sector's middle half▲ 6.5%€93,366within the sector's middle half▲ 19.8%€101,090within the sector's middle half▲ 8.3%€102,933within the sector's middle half▲ 1.8%
Debt€102,737-€103,160▲ 0.4%€99,573▼ 3.5%€95,806▼ 3.8%€107,234▲ 11.9%€112,788▲ 5.2%€105,967▼ 6.0%
Working capital-€47,393--€47,797below the sector's middle half▼ 0.9%-€30,928below the sector's middle half▲ 35.3%-€23,047below the sector's middle half▲ 25.5%-€27,577below the sector's middle half▼ 19.7%-€22,628below the sector's middle half▲ 17.9%-€14,825below the sector's middle half▲ 34.5%
Solvency-76.2%--67.6%below the sector's middle half▲ 8.6pp-36.1%below the sector's middle half▲ 31.5pp-22.9%below the sector's middle half▲ 13.1pp-14.9%below the sector's middle half▲ 8.1pp-11.6%below the sector's middle half▲ 3.3pp-2.9%below the sector's middle half▲ 8.6pp
Current ratio0.54-0.54below the sector's middle half=0.69below the sector's middle half▲ 0.150.76below the sector's middle half▲ 0.070.74below the sector's middle half▼ 0.020.80below the sector's middle half▲ 0.060.86below the sector's middle half▲ 0.06
Return on assets (ROA)19.9%-4.6%within the sector's middle half▼ 15.3pp20.8%above the sector's middle half▲ 16.2pp10.9%within the sector's middle half▼ 9.9pp4.3%within the sector's middle half▼ 6.6pp2.1%within the sector's middle half▼ 2.1pp8.4%within the sector's middle half▲ 6.3pp
above
within
below
The sector band is the middle half of the companies in Manufacture of fabricated metal products, except machinery and equipment (NACE 25). 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 118% higher than in 2024. It is a recovery after the fall 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 €102,933
Fixed assets
€11,791 ▲ 7.9%
Current assets
€91,142 ▲ 1.1%
Equity and liabilities
Equity-€3,034
Debt€105,967
Equity is negative. Debt (€105,967) exceeds the balance-sheet total (€102,933).
Key figures and ratios
EBITDA
€11,522▲
2024 · €6,778
Cash flow
€12,410▲
2024 · €5,380
Interest coverage
63.83▲
2024 · 27.00
Debt ≤ 1 year
€105,967▼
2024 · €112,788
Income taxes
€3,179▲
2024 · €1,147
Debt to equity is not shown because equity is negative. Debt divided by negative equity means nothing.
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 31-03-2022 | 31-03-2023 | 31-03-2024 | 31-03-2025 |
|---|---|---|---|---|
| Tangible fixed assets | €1,722 | €10,237 | €431 | €4,607 |
| Depreciation and write-downs of the year | €1,437 | €1,699 | €3,210 | €3,747 |
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 | - | - | - | - | €413 | - | - | - |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €866 | €1,572 | €1,307 | €1,437 | €1,699 | €3,210 | €3,747 | ▲ 16.7% |
| Other operating charges640/8 | - | - | - | €348 | €393 | €659 | €387 | ▼ 41.2% |
| Gross operating margin9900 | €10,480 | €3,561 | €16,890 | €8,901 | €7,740 | €7,438 | €11,910 | ▲ 60.1% |
| Operating profit (loss)9901 | €9,267 | €1,642 | €15,235 | €7,117 | €5,649 | €3,569 | €7,776 | ▲ 118% |
| Financial income75/76B | - | - | - | €2,399 | - | €0 | €4,247 | ▲ 424,675× |
| Recurring financial income75 | €2,587 | €1,355 | - | €2,399 | - | €0 | €4,247 | ▲ 424,675× |
| Financial charges65/66B | - | - | - | €179 | €201 | €251 | €181 | ▼ 28.1% |
| Recurring financial charges65 | €276 | €187 | €21 | €179 | €201 | €251 | €181 | ▼ 28.1% |
| Profit (loss) for the period before taxes9903 | €11,577 | €2,811 | €15,214 | €9,337 | €5,447 | €3,318 | €11,842 | ▲ 257% |
| Income taxes67/77 | - | - | - | €823 | €1,439 | €1,147 | €3,179 | ▲ 177% |
| Profit (loss) for the period9904 | €11,577 | €2,811 | €15,214 | €8,514 | €4,009 | €2,170 | €8,663 | ▲ 299% |
| Profit (loss) for the period to be appropriated9905 | €11,577 | €2,811 | €15,214 | €8,514 | €4,009 | €2,170 | €8,663 | ▲ 299% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €58,321 | €61,555 | €73,182 | €77,929 | €93,366 | €101,090 | €102,933 | ▲ 1.8% |
| Fixed assets21/28 | €2,977 | €6,192 | €4,885 | €5,170 | €13,708 | €10,930 | €11,791 | ▲ 7.9% |
| Intangible fixed assets21 | - | - | - | - | - | - | €0 | - |
| Tangible fixed assets22/27 | €2,977 | €6,192 | €4,885 | €5,170 | €13,708 | €10,930 | €11,791 | ▲ 7.9% |
| Land and buildings22 | - | - | - | €3,350 | €2,872 | €2,789 | €2,267 | ▼ 18.7% |
| Plant, machinery and equipment23 | - | - | - | €551 | €422 | €292 | €856 | ▲ 193% |
| Furniture and vehicles24 | - | - | - | €1,270 | €10,415 | €7,848 | €8,668 | ▲ 10.4% |
| Current assets29/58 | €55,344 | €55,364 | €68,297 | €72,759 | €79,658 | €90,160 | €91,142 | ▲ 1.1% |
| Amounts receivable within one year40/41 | €51,041 | €52,310 | €54,316 | €40,400 | €65,164 | €86,798 | €83,240 | ▼ 4.1% |
| Trade receivables40 | - | - | - | €39,962 | €63,286 | €86,697 | €83,037 | ▼ 4.2% |
| Other amounts receivable41 | - | - | - | €438 | €1,878 | €101 | €203 | ▲ 101% |
| Cash at bank and in hand54/58 | €1,534 | €222 | €11,115 | €29,419 | €11,813 | €876 | €5,368 | ▲ 513% |
| Deferred charges and accrued income490/1 | - | - | - | €2,940 | €2,681 | €2,486 | €2,533 | ▲ 1.9% |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €58,321 | €61,555 | €73,182 | €77,929 | €93,366 | €101,090 | €102,933 | ▲ 1.8% |
| Equity10/15 | -€44,416 | -€41,605 | -€26,391 | -€17,877 | -€13,868 | -€11,698 | -€3,034 | ▲ 74.1% |
| Contributions10/11 | €18,592 | - | - | €18,592 | €18,592 | €18,592 | €18,592 | = |
| Reserves13 | €3,454 | €3,454 | €3,454 | €3,454 | €3,454 | €3,454 | €3,454 | = |
| Non-distributable reserves130/1 | - | - | - | €378 | €378 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €378 | €378 | - | - | - |
| Tax-exempt reserves132 | - | - | - | €3,076 | €3,076 | €3,076 | €3,076 | = |
| Distributable reserves133 | - | - | - | - | - | €378 | €378 | = |
| Profit (loss) carried forward14 | -€66,462 | -€63,651 | -€48,437 | -€39,922 | -€35,914 | -€33,743 | -€25,080 | ▲ 25.7% |
| Amounts payable17/49 | €102,737 | €103,160 | €99,573 | €95,806 | €107,234 | €112,788 | €105,967 | ▼ 6.0% |
| Amounts payable within one year42/48 | €102,737 | €103,160 | €99,225 | €95,806 | €107,234 | €112,788 | €105,967 | ▼ 6.0% |
| Trade debts44 | €460 | €5,556 | €814 | €929 | €816 | €927 | €1,291 | ▲ 39.2% |
| Suppliers440/4 | - | - | - | €929 | €816 | €927 | €1,291 | ▲ 39.2% |
| Taxes, remuneration and social security45 | - | - | - | €823 | €1,439 | €1,147 | €3,179 | ▲ 177% |
| Taxes450/3 | - | - | - | €823 | €1,439 | €1,147 | €3,179 | ▲ 177% |
| Other amounts payable47/48 | - | - | - | €94,054 | €104,979 | €110,714 | €101,497 | ▼ 8.3% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €11,577 | €2,811 | €15,214 | €8,514 | €4,009 | €2,170 | €8,663 | ▲ 299% |
| + Depreciation and write-downs630 | €866 | €1,572 | €1,307 | €1,437 | €1,699 | €3,210 | €3,747 | ▲ 16.7% |
| Operating cash flow (approximation) | €12,443 | €4,382 | €16,521 | €9,951 | €5,708 | €5,380 | €12,410 | ▲ 131% |
| Investment in fixed assets (approximation) | - | -€4,786 | €0 | -€1,722 | -€10,237 | -€431 | -€4,607 | ▼ 968% |
| Change in cash | - | -€1,312 | €10,893 | €18,304 | -€17,606 | -€10,937 | €4,492 | - |
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, 3,794 companies had the same profile as Agrippa has now. Two years later, 91.5% were still going and 2.7% had gone bankrupt.
- Micro
- 20 years or older
- negative equity
- a profit of 5% of the balance sheet or more
91.5%
was still going
5.3%
stopped otherwise
2.7%
went bankrupt
Another 0.6% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of Agrippa itself: 1.3% 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 3,794 companies, not a prediction for Agrippa. 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 30 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-03-2025 | micro format | 30-10-2025 | 2025-00559326 | |
| 31-03-2024 | micro format | 28-10-2024 | 2024-00526818 | |
| 31-03-2023 | micro format | 31-10-2023 | 2023-00509254 | |
| 31-03-2022 | micro format | 06-01-2023 | 2023-20555447 | |
| 31-03-2021 | micro format | 16-11-2021 | 2021-77800056 | |
| 31-03-2020 | micro format | 18-11-2020 | 2020-71400050 | |
| 31-03-2019 | micro format | 31-10-2019 | 2019-73400560 | |
| 31-03-2018 | micro format | 31-10-2018 | 2018-71000461 | |
| 31-03-2017 | micro format | 30-11-2017 | 2017-70700180 | |
| 31-03-2016 | abbreviated format | 30-11-2016 | 2016-69300100 |