ALG Consult
ActiveFinancials · financial year 2025, micro format
2025 annual accounts filed 5 days after the deadline Filed on 5 August 2026, deadline 31 July 2026 (7 months after the close on 31 December 2025, Companies Code art. 3:10). Source: NBB, 2026-00381549.
Annual accounts 2025 filed on 05-08-2026 at the NBB all 5 filings
Equity
€132,488▼ 51.2%
2024 · €271,708
Total assets
€607,494▼ 17.4%
2024 · €735,026
Net result
-€139,220
2024 · €52,325
Working capital
€514,070▼ 12.2%
2024 · €585,697
Multi-year overview
2021 to 2025, 5 financial yearsOperating result
-€37,254
2025
20212025
Net result
-€139,220
2025
lowest quarter of the sector
20212025
Equity
€132,488
▼ 51.2%
2025
middle half of the sector
20212025
Total assets
€607,494
▼ 17.4%
2025
highest quarter of the sector
20212025
Debt
€475,006
▲ 2.5%
2025
20212025
Working capital
€514,070
▼ 12.2%
2025
highest quarter of the sector
20212025
Solvency
21.8%
▼ 15.2pp
2025
lowest quarter of the sector
20212025
Current ratio
13.75
▲ 8.79
2025
highest quarter of the sector
20212025
Return on assets (ROA)
-22.9%
▼ 30.0pp
2025
lowest quarter of the sector
20212025
Every figure per financial year
Every figure with its change against the financial year before
favourable
unfavourable
Line20212022202320242025
Operating result€24,989-€51,687▲ 107%€232,045▲ 349%€75,645▼ 67.4%-€37,254
Net result€18,842within the sector's middle half-€36,029within the sector's middle half▲ 91.2%€159,511above the sector's middle half▲ 343%€52,325within the sector's middle half▼ 67.2%-€139,220below the sector's middle half
Equity€23,842below the sector's middle half-€59,871within the sector's middle half▲ 151%€219,383above the sector's middle half▲ 266%€271,708above the sector's middle half▲ 23.9%€132,488within the sector's middle half▼ 51.2%
Total assets€37,242below the sector's middle half-€292,070above the sector's middle half▲ 684%€683,005above the sector's middle half▲ 134%€735,026above the sector's middle half▲ 7.6%€607,494above the sector's middle half▼ 17.4%
Debt€13,400-€232,199▲ 17×€463,622▲ 99.7%€463,318▼ 0.1%€475,006▲ 2.5%
Working capital€24,542within the sector's middle half-€233,607above the sector's middle half▲ 852%€541,301above the sector's middle half▲ 132%€585,697above the sector's middle half▲ 8.2%€514,070above the sector's middle half▼ 12.2%
Solvency64.0%within the sector's middle half-20.5%below the sector's middle half▼ 43.5pp32.1%below the sector's middle half▲ 11.6pp37.0%within the sector's middle half▲ 4.8pp21.8%below the sector's middle half▼ 15.2pp
Current ratio2.93within the sector's middle half-5.00above the sector's middle half▲ 2.064.87within the sector's middle half▼ 0.124.96within the sector's middle half▲ 0.0813.75above the sector's middle half▲ 8.79
Return on assets (ROA)50.6%above the sector's middle half-12.3%within the sector's middle half▼ 38.3pp23.4%within the sector's middle half▲ 11.0pp7.1%within the sector's middle half▼ 16.2pp-22.9%below the sector's middle half▼ 30.0pp
above
within
below
The sector band is the middle half of the companies in Computer programming, consultancy and related activities (NACE 62). 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 a loss of €37,254, after a profit of €75,645 in 2024. It is the lowest result since 2021.
Turnover and EBIT margin are not published. The micro format does not require them.
Balance-sheet composition
2025 in colour, 2024 as the grey bar beneath
Assets €607,494
Fixed assets
€53,112 ▲ 39×
Current assets
€554,382 ▼ 24.4%
Equity and liabilities €607,494
Equity
€132,488 ▼ 51.2%
Debt
€475,006 ▲ 2.5%
Debt's share of the balance-sheet total rises from 63.0% to 78.2%. Equity is lower and debt is higher.
Key figures and ratios
EBITDA
-€24,835▼
2024 · €76,267
Cash flow
-€126,802▼
2024 · €52,947
Quick ratio
2.94▲
2024 · 2.01
Debt to equity
3.59▲
2024 · 1.71
ROE
-105.1%▼
2024 · 19.3%
Interest coverage
-0.24▼
2024 · 4.29
Debt ≤ 1 year
€40,312▼
2024 · €147,960
Debt > 1 year
€434,694▲
2024 · €315,359
Income taxes
€180▼
2024 · €14,204
Green means a favourable move, even when the figure itself falls, as with debt or debt to equity.
Investments
| Item | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | - | €2,123 | - | €64,161 |
| Depreciation and write-downs of the year | - | - | €132 | €621 | €12,418 |
Source: notes to the 2021 to 2025 annual accounts (statement of fixed assets)
Annual accounts
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets630 | - | - | €132 | €621 | €12,418 | ▲ 20× |
| Other operating charges640/8 | €372 | €31,899 | €16,008 | €2,440 | €2,130 | ▼ 12.7% |
| Gross operating margin9900 | €25,361 | €83,586 | €248,186 | €78,707 | -€22,705 | - |
| Operating profit (loss)9901 | €24,989 | €51,687 | €232,045 | €75,645 | -€37,254 | - |
| Financial income75/76B | €193 | €1,684 | €4,331 | €8,678 | - | - |
| Recurring financial income75 | €193 | €1,684 | €4,331 | €8,678 | - | - |
| Financial charges65/66B | €60 | €3,606 | €7,886 | €17,794 | €101,786 | ▲ 472% |
| Recurring financial charges65 | €60 | €3,606 | €7,886 | €17,794 | €101,786 | ▲ 472% |
| Profit (loss) for the period before taxes9903 | €25,122 | €49,765 | €228,489 | €66,529 | -€139,040 | - |
| Income taxes67/77 | €6,281 | €13,736 | €68,978 | €14,204 | €180 | ▼ 98.7% |
| Profit (loss) for the period9904 | €18,842 | €36,029 | €159,511 | €52,325 | -€139,220 | - |
| Profit (loss) for the period to be appropriated9905 | €18,842 | €36,029 | €159,511 | €52,325 | -€139,220 | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Total assets20/58 | €37,242 | €292,070 | €683,005 | €735,026 | €607,494 | ▼ 17.4% |
| Fixed assets21/28 | - | - | €1,991 | €1,369 | €53,112 | ▲ 39× |
| Tangible fixed assets22/27 | - | - | €1,991 | €1,369 | €53,112 | ▲ 39× |
| Land and buildings22 | - | - | - | - | €5,435 | - |
| Plant, machinery and equipment23 | - | - | €1,462 | €970 | €478 | ▼ 50.8% |
| Furniture and vehicles24 | - | - | €529 | €399 | €47,199 | ▲ 118× |
| Current assets29/58 | €37,242 | €292,070 | €681,014 | €733,657 | €554,382 | ▼ 24.4% |
| Stocks and contracts in progress3 | - | €202,175 | €419,520 | €435,754 | €435,754 | = |
| Stocks30/36 | - | €202,175 | €419,520 | €435,754 | €435,754 | = |
| Amounts receivable within one year40/41 | €18,264 | €83,653 | €261,340 | €253,128 | €112,131 | ▼ 55.7% |
| Trade receivables40 | €12,100 | €40,959 | €102,850 | €11,132 | - | - |
| Other amounts receivable41 | €6,164 | €42,694 | €158,490 | €241,996 | €112,131 | ▼ 53.7% |
| Cash at bank and in hand54/58 | €18,978 | €6,242 | €154 | €44,774 | €6,497 | ▼ 85.5% |
| Equity and liabilities | ||||||
| Total equity and liabilities10/49 | €37,242 | €292,070 | €683,005 | €735,026 | €607,494 | ▼ 17.4% |
| Equity10/15 | €23,842 | €59,871 | €219,383 | €271,708 | €132,488 | ▼ 51.2% |
| Contributions10/11 | €5,000 | €5,000 | €5,000 | €5,000 | €5,000 | = |
| Reserves13 | €18,842 | €54,871 | €214,383 | €266,708 | €266,708 | = |
| Distributable reserves133 | €18,842 | €54,871 | €214,383 | €266,708 | €266,708 | = |
| Profit (loss) carried forward14 | - | - | - | - | -€139,220 | - |
| Amounts payable17/49 | €13,400 | €232,199 | €463,622 | €463,318 | €475,006 | ▲ 2.5% |
| Amounts payable after more than one year17 | - | €172,236 | €322,410 | €315,359 | €434,694 | ▲ 37.8% |
| Financial debts170/4 | - | €172,236 | €322,410 | €315,359 | €345,721 | ▲ 9.6% |
| Other amounts payable178/9 | - | - | - | - | €88,974 | - |
| Amounts payable within one year42/48 | €12,700 | €58,463 | €139,713 | €147,960 | €40,312 | ▼ 72.8% |
| Current portion of amounts payable after more than one year42 | - | €6,609 | €6,826 | €21,888 | €25,511 | ▲ 16.6% |
| Trade debts44 | €340 | €12,115 | €3,734 | €25,702 | €6,367 | ▼ 75.2% |
| Suppliers440/4 | €340 | €12,115 | €3,734 | €25,702 | €6,367 | ▼ 75.2% |
| Taxes, remuneration and social security45 | €12,360 | €39,740 | €129,152 | €100,370 | €8,434 | ▼ 91.6% |
| Taxes450/3 | €12,360 | €39,740 | €129,152 | €100,370 | €8,434 | ▼ 91.6% |
| Accrued charges and deferred income492/3 | €700 | €1,500 | €1,500 | - | - | - |
| Line | 2021 | 2022 | 2023 | 2024 | 2025 | Change |
|---|---|---|---|---|---|---|
| Profit (loss) for the period9904 | €18,842 | €36,029 | €159,511 | €52,325 | -€139,220 | - |
| + Depreciation and write-downs630 | - | - | €132 | €621 | €12,418 | ▲ 20× |
| Operating cash flow (approximation) | €18,842 | €36,029 | €159,644 | €52,947 | -€126,802 | - |
| Investment in fixed assets (approximation) | - | - | - | €0 | -€64,161 | - |
| Change in cash | - | -€12,736 | -€6,088 | €44,620 | -€38,277 | - |
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, 122 companies had the same profile as ALG Consult has now. Two years later, 86.1% were still going and 6.6% had gone bankrupt.
- Small
- 5 to 10 years old
- solvency 10 to 30%
- a loss of 10% of the balance sheet or more
86.1%
was still going
4.9%
stopped otherwise
6.6%
went bankrupt
Another 2.5% stopped without a precise date, possibly only after those two years.
The bankruptcy probability of ALG Consult itself is lower: 0.3% within 12 months. It rests on far more data about ALG Consult 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 122 companies, not a prediction for ALG Consult. 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 (5)
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-12-2025 | micro format | 05-08-2026 | 2026-00381549 | |
| 31-12-2024 | micro format | 19-07-2025 | 2025-00288638 | |
| 31-12-2023 | micro format | 13-08-2024 | 2024-00341243 | |
| 31-12-2022 | micro format | 24-08-2023 | 2023-00347644 | |
| 31-12-2021 | micro format | 10-10-2022 | 2022-20455343 |