ALAUDA
ActiveFinancials · financial year 2025, full format
Annual accounts 2025 filed on 18-12-2025 PDF all 27 filings
Turnover
≈ €40,000
Estimated: probably between €17,000 and €99,000
EBIT margin
Not included in this filing
Net result
-€3,059▼ 310%
2024 · -€747
Working capital
-€124,439▼ 4.5%
2023 · -€119,066
Multi-year overview
2019 to 2025, 7 financial yearsOperating result
-€587
2025
20192025
Net result
-€3,059
▼ 310%
2025
20192025
Equity
-€27,696
▼ 12.4%
2025
20192025
Total assets
€157,009
▼ 3.5%
2025
20192025
Debt
€183,740
▼ 1.3%
2025
20192025
Working capital
no figure
2025
20192025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line2019202020212022202320242025
Operating result-€3,296-€79-€773€1,605-€365€1,268-€587
Net result-€6,477--€2,887▲ 55.4%-€3,484▼ 20.7%-€912▲ 73.8%-€2,624▼ 188%-€747▲ 71.5%-€3,059▼ 310%
Equity-€13,983--€16,870▼ 20.6%-€20,353▼ 20.6%-€21,266▼ 4.5%-€23,891▼ 12.3%-€24,637▼ 3.1%-€27,696▼ 12.4%
Total assets€186,642-€182,908▼ 2.0%€177,213▼ 3.1%€172,154▼ 2.9%€169,474▼ 1.6%€162,683▼ 4.0%€157,009▼ 3.5%
Debt€198,005-€197,434▼ 0.3%€195,497▼ 1.0%€191,627▼ 2.0%€191,848▲ 0.1%€186,079▼ 3.0%€183,740▼ 1.3%
Working capital-€96,737--€102,410▼ 5.9%-€109,605▼ 7.0%-€113,736▼ 3.8%-€119,066▼ 4.7%-€124,439▼ 4.5%
The operating result for 2025 is a loss of €587, after a profit of €1,268 in 2024.
The turnover shown is an estimate from the gross margin.
Key figures and ratios
EBITDA
€4,309▼
2024 · €6,163
Cash flow
€1,837▼
2024 · €4,148
Solvency
-17.6%▼
2024 · -15.1%
ROA
-1.9%▼
2024 · -0.5%
Interest coverage
1.57▼
2024 · 2.69
Debt ≤ 1 year
€131,561▲
2024 · €125,217
Debt > 1 year
€51,460▼
2024 · €60,167
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.
Annual accounts
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | €4,895 | €4,895 | €4,895 | €4,895 | €4,895 | €4,895 | €4,896 | = |
| Other operating charges640/8 | - | - | - | €1,329 | €1,337 | €1,542 | €1,544 | ▲ 0.1% |
| Gross operating margin9900 | €3,247 | €6,271 | €5,728 | €7,829 | €5,867 | €7,705 | €5,853 | ▼ 24.0% |
| Operating profit (loss)9901 | -€3,296 | €79 | -€773 | €1,605 | -€365 | €1,268 | -€587 | - |
| Financial charges65/66B | - | - | - | €2,793 | €2,535 | €2,291 | €2,748 | ▲ 19.9% |
| Recurring financial charges65 | €3,457 | €3,242 | €2,987 | €2,793 | €2,535 | €2,291 | €2,748 | ▲ 19.9% |
| Profit (loss) for the period before taxes9903 | -€6,753 | -€3,163 | -€3,760 | -€1,188 | -€2,900 | -€1,023 | -€3,335 | ▼ 226% |
| Transfer from deferred taxes780 | - | - | - | €276 | €276 | €276 | €276 | = |
| Profit (loss) for the period9904 | -€6,477 | -€2,887 | -€3,484 | -€912 | -€2,624 | -€747 | -€3,059 | ▼ 310% |
| Transfer from tax-exempt reserves789 | - | - | - | €535 | €535 | €536 | €536 | = |
| Profit (loss) for the period to be appropriated9905 | -€5,942 | -€2,351 | -€2,948 | -€377 | -€2,089 | -€211 | -€2,523 | ▼ 1,096% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||
| Total assets20/58 | €186,642 | €182,908 | €177,213 | €172,154 | €169,474 | €162,683 | €157,009 | ▼ 3.5% |
| Fixed assets21/28 | €186,380 | €181,485 | €176,590 | €171,695 | €166,800 | €161,905 | €157,009 | ▼ 3.0% |
| Tangible fixed assets22/27 | €186,380 | €181,485 | €176,590 | €171,695 | €166,800 | €161,905 | €157,009 | ▼ 3.0% |
| Land and buildings22 | - | - | - | €171,695 | €166,800 | €161,905 | €157,009 | ▼ 3.0% |
| Current assets29/58 | €262 | €1,423 | €623 | €459 | €2,674 | €778 | - | - |
| Cash at bank and in hand54/58 | €262 | €1,020 | - | - | €2,674 | €778 | - | - |
| Deferred charges and accrued income490/1 | - | - | - | €459 | - | - | - | - |
| Equity and liabilities | ||||||||
| Total equity and liabilities10/49 | €186,642 | €182,908 | €177,213 | €172,154 | €169,474 | €162,683 | €157,009 | ▼ 3.5% |
| Equity10/15 | -€13,983 | -€16,870 | -€20,353 | -€21,266 | -€23,891 | -€24,637 | -€27,696 | ▼ 12.4% |
| Contributions10/11 | €18,600 | - | - | €18,600 | €18,600 | €18,600 | €18,600 | = |
| Reserves13 | €6,951 | €6,415 | €5,880 | €5,344 | €4,808 | €4,273 | €3,737 | ▼ 12.5% |
| Non-distributable reserves130/1 | - | - | - | €1,860 | €1,860 | - | - | - |
| Reserves not available under the articles1311 | - | - | - | €1,860 | €1,860 | - | - | - |
| Tax-exempt reserves132 | - | - | - | €3,484 | €2,948 | €2,413 | €1,877 | ▼ 22.2% |
| Distributable reserves133 | - | - | - | - | - | €1,860 | €1,860 | = |
| Profit (loss) carried forward14 | -€39,534 | -€41,885 | -€44,833 | -€45,210 | -€47,299 | -€47,510 | -€50,033 | ▼ 5.3% |
| Provisions and deferred taxes16 | €2,620 | €2,344 | €2,069 | €1,793 | €1,517 | €1,241 | €965 | ▼ 22.2% |
| Deferred taxes168 | - | - | - | €1,793 | €1,517 | €1,241 | €965 | ▼ 22.2% |
| Amounts payable17/49 | €198,005 | €197,434 | €195,497 | €191,627 | €191,848 | €186,079 | €183,740 | ▼ 1.3% |
| Amounts payable after more than one year17 | €101,006 | €93,254 | €85,269 | €77,047 | €68,578 | €60,167 | €51,460 | ▼ 14.5% |
| Financial debts170/4 | - | - | - | €77,047 | €68,578 | €60,167 | €51,460 | ▼ 14.5% |
| Amounts payable within one year42/48 | €96,999 | €103,833 | €110,228 | €114,195 | €121,740 | €125,217 | €131,561 | ▲ 5.1% |
| Current portion of amounts payable after more than one year42 | - | - | - | €8,897 | €8,469 | €8,411 | €8,707 | ▲ 3.5% |
| Financial debts43 | - | - | - | €109 | - | - | €283 | - |
| Credit institutions430/8 | - | - | - | €109 | - | - | €283 | - |
| Trade debts44 | €500 | €1,109 | €1,744 | €1,418 | €500 | €235 | €500 | ▲ 113% |
| Suppliers440/4 | - | - | - | €1,418 | €500 | €235 | €500 | ▲ 113% |
| Other amounts payable47/48 | - | - | - | €103,771 | €112,771 | €116,571 | €122,071 | ▲ 4.7% |
| Accrued charges and deferred income492/3 | - | - | - | €385 | €1,530 | €695 | €719 | ▲ 3.5% |
| Line | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | -€6,477 | -€2,887 | -€3,484 | -€912 | -€2,624 | -€747 | -€3,059 | ▼ 310% |
| + Depreciation and write-downs630 | €4,895 | €4,895 | €4,895 | €4,895 | €4,895 | €4,895 | €4,896 | = |
| Operating cash flow (approximation) | -€1,582 | €2,008 | €1,411 | €3,983 | €2,271 | €4,148 | €1,837 | ▼ 55.7% |
| Investment in fixed assets (approximation) | - | €0 | €0 | €0 | €0 | €0 | €0 | - |
| Change in cash | - | €758 | - | - | - | -€1,896 | - | - |
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, 2,796 companies had the same profile as ALAUDA has now. Two years later, 90.4% were still going and 2.1% had gone bankrupt.
- Micro
- 20 years or older
- negative equity
- a small loss
90.4%
was still going
6.0%
stopped otherwise
2.1%
went bankrupt
Another 1.5% stopped without a precise date, possibly only after those two years.
That fits the bankruptcy probability of ALAUDA itself: 0.7% 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 2,796 companies, not a prediction for ALAUDA. 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 27 filings with the National Bank
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 30-06-2025 | full format | 18-12-2025 | 2025-00584627 | |
| 30-06-2024 | full format | 12-11-2024 | 2024-00533193 | |
| 30-06-2023 | full format | 23-11-2023 | 2023-00517329 | |
| 30-06-2022 | full format | 14-11-2022 | 2022-20522082 | |
| 30-06-2021 | full format | 16-11-2021 | 2021-77400349 | |
| 30-06-2020 | full format | 10-12-2020 | 2020-75200219 | |
| 30-06-2019 | full format | 13-11-2019 | 2019-73600374 | |
| 30-06-2018 | full format | 20-12-2018 | 2018-75300219 | |
| 30-06-2017 | full format | 04-12-2017 | 2017-71300176 | |
| 30-06-2016 | full format | 12-12-2016 | 2016-69700379 |